QANTM (QIP AU): IPH Wades In As Adamantem Tarries

May 08, 2024

∙ Paid

It always seemed like a question of when, not if, IPH (IPH AU) would make an Offer for QANTM (QIP AU). IPH previously approached QANTM in 2018, but was spurned.
Capitalising on ongoing extensions to Adamantem's exclusivity, as it relates to its all-cash A$1.817/share Offer by way of a Scheme, IPH has now tabled an all-scrip, plus A$0.11/share dividend NBIO.
IPH's implied Scheme value of A$1.90/share is a premium to Adamantem's proposal. The catch: apart from terms being indicative, IPH's Offer requires ACCC and NZCC clearance.

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