IPH seeks to disrupt merger plans

Company News

by Rachael Jones

Intellectual property law firm IPH (ASX:IPH) has purchased a 19.9 per cent stake in Xenith IP Group and intends to seek discussions with Xenith (ASX:XIP) and QANTM intellectual property (ASX:QIP) about a potential merger.

The company paid $1.85 per share for the stake.

IPH has indicated that it does not intend to vote its newly acquired shareholding in Xenith in favour of the proposed merger.

In November last year, QANTM previously engaged with IPH in relation to an indicative, conditional and nonbinding proposal by IPH to acquire QANTM.

The QANTM Board remains convinced of the benefits of and supports the proposed merger.

Shares in IPH (ASX:IPH) closed 2.19 per cent higher to $6.08 yesterday.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.