EQT Raises Takeover Bid for Intertek Again — Update
By Nina Kienle
Swedish buyout group EQT said Tuesday that it submitted an improved takeover proposal for Intertek, valuing the provider of testing, inspection and certification services at 8.93 billion pounds ($12.08 billion).
In the new offer, the private-equity company values Intertek at 58 pounds a share in cash, or a 54% premium to its closing price on April 9, the day before the initial proposal was submitted. The proposal values the company as a whole at 8.93 billion pounds, based on share-count data provided by LSEG.
Shares in Intertek rose on the news, trading 7.4% higher at 51.58 pounds in European morning trading.
Intertek confirmed it was reviewing the proposal and advised shareholders not to take action at this time. A further announcement would be made in due course, it added.
The proposal is EQT's third offer, after previous offers of 51.50 pounds and 54 pounds a share in cash, both rejected by Intertek on undervaluing the company.
There is no certainty that a new offer will be made, EQT said.
Meanwhile, RBC Capital Markets lifted its rating on Intertek to outperform from sector perform and raised its target price to 58.50 pounds from 44.75 pounds.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
May 05, 2026 05:49 ET (09:49 GMT)
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