XIP merger - Really Good or Really Bad?, page-20

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%.