Actually, the relevant question is whether QIP can raise capital...

Actually, the relevant question is whether QIP can raise capital or debt finance to match IPH's offer for XIP. They have 3 days to make some magic. Unlikely, but still a possibility.

QIP competing against a combined IPH + XIP is not a promising long term future.

Regardless, XIP is $2.15 or higher (if improved offers occur subsequently).