<article>Intellectual property services provider <a href="https://www.dealstreetasia.com/?s=IPH Ltd" target="_blank" rel="noopener">IPH Ltd</a> on Tuesday offered to buy smaller rival <a href="https://www.dealstreetasia.com/?s=Xenith Ip Group" target="_blank" rel="noopener">Xenith Ip Group</a> for about A$174.8 million ($123.64 million).</article>

Intellectual property services provider <a href="https://www.dealstreetasia.com/?s=IPH Ltd" target="_blank" rel="noopener">IPH Ltd</a> on Tuesday offered to buy smaller rival <a href="https://www.dealstreetasia.com/?s=Xenith Ip Group" target="_blank" rel="noopener">Xenith Ip Group</a> for about A$174.8 million ($123.64 million).
IPH said it was offering A$1.97 in cash and equity for each share in Xenith. The offer represents a premium of about 23 percent to Xenith’s last close.
Xenith is in the process of merging with peer QANTM Intellectual Property Ltd. 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 percent interest in Xenith last month, said its proposal was superior to QANTM’s, and that it planned to vote against the proposal.
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Reuters

IPH said it was offering A$1.97 in cash and equity for each share in Xenith. The offer represents a premium of about 23 percent to Xenith’s last close.

Australia's IPH offers to buy smaller rival Xenith for $124m

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Australia's IPH offers to buy smaller rival Xenith for $124m

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