UK testing and compliance group Intertek is evaluating a revised takeover proposal from Swedish private equity firm EQT, in a deal that would value the company at approximately £8.9bn ($12bn), according to a report by Reuters.
EQT has raised its offer to £58 per share in cash, its third approach in just over three weeks, after earlier proposals were rejected by Intertek’s board for undervaluing the business. The renewed bid represents a significant premium to the company’s recent trading levels and has pushed the stock to its highest point in over a year.
Intertek, a global provider of product testing, inspection and certification services, has seen its shares rally sharply since EQT first disclosed interest in the company in April, reflecting growing investor speculation around a potential deal.
Under UK takeover rules, the private equity firm has until mid-May to decide whether to proceed with a formal offer or withdraw. EQT has argued that its latest proposal would deliver immediate cash value to shareholders, while outperforming expected returns under Intertek’s standalone growth plan.
Alongside the takeover approach, Intertek has also been exploring strategic options including a potential separation of its business units, a move seen as part of broader efforts to enhance operational focus and unlock shareholder value.
