QANTM bid for Xenith IP Group foiled

Company News

by Katrina Bullock

QANTM Intellectual Property (ASX:QIP) is out of the running to purchase Xenith IP Group (ASX:XIP).

It confirmed today that it will not be providing a counter offer matching the terms of IPH’s (ASX:IPH) revised proposal to purchase Xenith IP Group.

IPH proposes to acquire 100 per cent of Xenith via a scheme of arrangement.

IPH is offering a combination of cash and IPH shares valued at approximately $2.15 per Xenith share.

Shares in Xenith IP Group (ASX:XIP) are trading 0.24 per cent lower at $2.10