Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

IPH (ASX:IPH) Just Sent The Xenith IP (ASX:XIP) Share Price 20% Higher

Xenith IP Group Ltd (ASX:XIP) share price is currently 20% higher due to an ASX announcement by IPH Ltd (ASX:IPH). 

Xenith IP Group Ltd (ASX: XIP) share price is currently 20% higher due to an ASX announcement by IPH Ltd (ASX: IPH).

Both of these businesses are legal firms that, as the names might suggest, work as intellectual property companies.

Why has the Xenith share price risen?

Earlier this morning IPH announced it had acquired around 19.9% of Xenith’s shares. IPH said it had done this to “participate in industry consolidation”, where it aims to make domestic acquisitions.

IPH purchased the shares from institutional investors at a price of $1.85 per share, for a total cost of $33 million, which has been funded from debt facilities. This compared to the current share price of $1.70 and yesterday’s share price of $1.40.

However, Xenith is currently going through its own merger with QANTM Intellectual Property Ltd (ASX: QIP), which itself was a takeover target of IPH a few months ago.

IPH doesn’t want the Xenith-QANTM merger to go ahead and wants to acquire one of them instead, although a deal would require ACCC approval.

IPH CEO Andrew Blattman said: “Since listing on the ASX in 2014, IPH has consistently demonstrated its ability to make considered, strategic acquisitions and successfully manage these businesses as part of the IPH group.”

What now?

Xenith said IPH is yet to communicate its intentions with Xenith. The Board of Xenith intends to proceed to merge with QANTM and believes in the potential benefits of the merger.

Until all of this is sorted, the growth shares in the free report below could be better share picks.

[ls_content_block id=”14947″ para=”paragraphs”]

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content