Intertek Likely to Recommend EQT's $12.7 Billion Offer to Shareholders
By Anthony O. Goriainoff
Intertek's board said it was likely to recommend to shareholders EQT's latest bid, which values the U.K. testing specialist at 9.4 billion pounds ($12.73 billion) including dividends, after rejecting three previous proposals.
Swedish private-equity group EQT on Tuesday said its latest takeover proposal for Intertek, the fourth it submitted, would be its final bid.
The testing specialist said Wednesday the decision followed significant engagement with its shareholders. Some investors in the U.K. company publicly called on it to engage with EQT.
In early trade, London-listed Intertek shares were up 7.7% at 5,710 pence.
Intertek said it would grant EQT access to confirmatory due diligence and pause work on a potential split of its energy-and-infrastructure business.
Under EQT's latest proposals, Intertek shareholders would get 60 pounds a share in cash and be entitled to keep a dividend of 107.7 pence a share. Intertek previously turned down proposals of 51.50 pounds, 54 pounds and 58 pounds a share.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
May 13, 2026 03:37 ET (07:37 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States