EQT Makes Final $12.8 Billion Bid to Take Over Intertek
By Adria Calatayud
Swedish buyout group EQT sweetened its takeover bid for U.K. testing specialist Intertek Group to 9.40 billion pounds ($12.79 billion), including dividends, saying this was its final proposal.
EQT said Tuesday that its latest proposal included 60 pounds in cash and a dividend of 107.7 pence a share, or 61.08 pounds a share in total. This compares with EQT's previous bid of 8.93 billion pounds, or 58 pounds a share, which Intertek's board turned down, saying the proposal undervalued the company.
The private-equity group said it submitted a final proposal with the goal of moving swiftly toward formalizing a recommended offer. EQT has been courting Intertek in recent weeks, but its prior three proposals were rejected by the target's board.
"EQT believes the final proposal delivers certain and accelerated cash value at a full valuation for Intertek shareholders, superior to the range of outcomes associated with Intertek's standalone prospects," it said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
May 12, 2026 03:10 ET (07:10 GMT)
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