ACCC approval of the IPH takeover of XIP. Watch those XIP shares...

ACCC approval of the IPH takeover of XIP. Watch those XIP shares get accumulated now and the trading activity (big trades). Also watch QIP price tanking on 1 single trade.

The vote is next Wednesday, 3 April at 10:30am. If IPH want to guarantee they can sink the XIP-QIP merger resolution, the time is now to accumulate. XIP requires nearly 94% of the remaining votes (i.e. 75% of the total XIP shares) to be in favour for the merger with QANTM to go ahead. If any one of the instos or a few ex-vendors vote no or abstain, the chance of success is nil.

I think IPH will observe the voting on 3 April and decide its next move after that. It's a fair assumption that those that voted no or abstain are probably inclined to sell earlier to IPH for the right price, between $1.85 and $2.

Next, IPH needs to secure 75% of the votes it does not control in order to succeed in its takeover bid for XIP. In other words, IPH needs to eventually reach 60.0075%, which is another 40.0175% from its current 19.99% position. The institutions hold that quantity, and also the ex-vendors. A bit from both would be enough to make the takeover bid successful. Even if IPH reaches 50% it can start passing resolutions that make it uncomfortable for the ex-vendors working at XIP that are choosing to hold out, and eventually reach 60.0075%.