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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.