EQT Agrees to Buy Intertek Group for $12.36 Billion
By Ian Walker
Swedish private-equity group EQT agreed to buy Intertek Group for 9.3 billion pounds ($12.36 billion) in cash after months of talks.
EQT said Thursday that accepting shareholders of the U.K. testing specialist will get 60 pounds in cash a share and keep the final dividend of 107.70 pence a share.
Including the dividend the offer values Intertek at 9.5 billion pounds. The cash price is a 38% premium to its closing price of 43.63 pounds on April 15, the day before EQT confirmed the approach.
On May 13 Intertek said that it was likely to recommend EQT's final takeover proposal if a formal offer was made. The proposal came after the company had rejected three previous offers, the first of which was for 51.50 pounds a share.
"In EQT I truly believe we have a partner who is as committed as we are to accelerating our growth and enabling Intertek to unleash its full potential for our clients and our people over the years ahead," Chief Executive Andre Lacroix said.
"EQT is committed to investing in Intertek, with a particular focus on innovation and targeted M&A to enable further international expansion and innovation," EQT Private Equity's Global Head of Services Matthias Wittkowski said.
Intertek shares were up 75 pence, or 1.3%, at 57.95 pounds in mid-morning European trading. They are currently up 25% over the year to date.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 18, 2026 05:28 ET (09:28 GMT)
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