IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Event-Driven

Qantm Intellectual Property / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/qantm-intellectual-property" target="_blank" data-smartkarma-citation="entities:24317:1" rel="noopener">Qantm Intellectual Property (QIP AU)</a>'s non-binding proposal from <a href="https://www.smartkarma.com/entities/iph-ltd" target="_blank" data-smartkarma-citation="entities:2495:1" rel="noopener">IPH Ltd (IPH AU)</a> is at A$0.11 cash + 0.291 IPH shares per QIP share, a 4.5% premium to Adamantem’s A$1.817 offer.</li>
<li>Since announcing the Adamantem non-binding proposal on 14 March, the IPH offer has been 4.3% higher than the Adamantem offer on average. </li>
<li>The IPH proposal also requires approval from the ACCC and NZCC. The presence of two bidders increases the probability of a binding proposal (with a bump). </li>
</ul>



Qantm Intellectual Property (QIP AU)'s non-binding proposal from IPH Ltd (IPH AU) is at A$0.11 cash + 0.291 IPH shares per QIP share, a 4.5% premium to Adamantem’s A$1.817 offer.
Since announcing the Adamantem non-binding proposal on 14 March, the IPH offer has been 4.3% higher than the Adamantem offer on average. 
The IPH proposal also requires approval from the ACCC and NZCC. The presence of two bidders increases the probability of a binding proposal (with a bump). 


Qantm IP (QIP AU): IPH Enters the Fray with a Competing Offer

<ul>
<li>The <a href="https://www.afr.com/street-talk/adamantem-takes-second-swing-at-qantm-ip-offer-pegged-at-58pc-premium-20240311-p5fbk1" target="_blank" rel="noopener">AFR reports</a> that Adamantem Capital had submitted a non-binding indicative offer for <a href="https://www.smartkarma.com/entities/qantm-intellectual-property" target="_blank" data-smartkarma-citation="entities:24317:1" rel="noopener">Qantm Intellectual Property (QIP AU)</a> at A$1.817 per share, a 30.7% premium to the last close. </li>
<li>In response to a <a href="https://www.afr.com/street-talk/qantm-intellectual-property-snares-bid-ma-moelis-on-scene-20240226-p5f7wp" target="_blank" rel="noopener">previous AFR article</a>, Qantm disclosed a non-binding indicative offer from Rouse but declined to reveal a price or the structure (cash or scrip). </li>
<li>AFR reports that other potential interested parties, such as Quadrant Private Equity and IPH, are also in the running. Adamantem’s attractive offer sets a high bar for other potential bidders. </li>
</ul>


The AFR reports that Adamantem Capital had submitted a non-binding indicative offer for Qantm Intellectual Property (QIP AU) at A$1.817 per share, a 30.7% premium to the last close. 
In response to a previous AFR article, Qantm disclosed a non-binding indicative offer from Rouse but declined to reveal a price or the structure (cash or scrip). 
AFR reports that other potential interested parties, such as Quadrant Private Equity and IPH, are also in the running. Adamantem’s attractive offer sets a high bar for other potential bidders. 


Qantm IP (QIP AU): Adamantem’s Rumoured Non-Binding Proposal at A$1.817

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Qantm IP (QIP AU): IPH Enters the Fray with a Competing Offer

The presence of two bidders increases the probability of a binding proposal (with a bump). At the last close, the gross spread to the IPH offer is...

Arun George

Qantm IP (QIP AU): Adamantem’s Rumoured Non-Binding Proposal at A$1.817

Rouse is conducting due diligence, but AFR reports that other potential interested parties, such as Quadrant and IPH, are also in the running....

Arun George

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