QANTM Intellectual Property (ASX: QIP) has confirmed it has received a non-binding indicative offer from Adamantem Capital in relation to a potential acquisition of all the shares in QANTM for $1.817 per share by way of a scheme of arrangement.
The Adamantem Indicative Proposal is all cash with a scrip election of up to 50%.
Adamantem is an Australian-based private equity investor.
As previously announced on 27 February 2024, QANTM is currently engaged in discussions with Rouse International Holdings Limited on an exclusive basis.
The Adamantem Indicative Proposal represents a higher price than the Rouse Indicative Proposal, but has not yet been comprehensively assessed by the QANTM Board. Under the exclusive due diligence arrangements, which are ongoing, Rouse has certain rights which will be discussed between Rouse and QANTM.
The QANTM Board recommends that shareholders take no action in regard to either proposal.
QANTM has appointed MA Moelis Australia as financial adviser and Gilbert + Tobin as legal adviser.
QANTM Intellectual Property is the owner of a group of leading intellectual property (IP) services businesses operating in Australia, New Zealand, Singapore, Malaysia and Hong Kong under key brands Davies Collison Cave, DCC Advanz Malaysia, Davies Collison Cave Law, FPA Patent Attorneys, and Sortify.tm Ltd (including Sortify.tm’s brands – DIY Trademarks, Trademarks Online and Trademark Planet).