Australian IPH and QANTM is bidding for acquire Xenith, valuing it at A$175m.

Intellectual property services provider IPH offered to buy smaller rival Xenith Ip Group for about $124m. IPH is offering in $1.28 cash; and 0.1261 IPH shares. The offer represents a total value of $2.15 per Xenith share based on IPH’s closing price on 5 April 2019 Xenith was in the process of merging with peer QANTM Intellectual Property. QANTM made an all-equity bid for the company in November 2018 and offered 1.22 of its shares for each share in Xenith. IPH, which had acquired a nearly 20% interest in Xenith last month, said its proposal was superior to QANTM’s, and that it planned to vote against the proposal. “We believe our proposal to Xenith provides a great opportunity to bring together two high quality IP businesses and to draw on the strengths, skills and advantages of each member firm to realise opportunities for our people, our clients and our shareholders,” said Dr Andrew Blattman, Managing Director & CEO, IPH.