The UK Takeover Panel has pushed back the deadline for a potential £9.4bn ($12.6bn) acquisition of Intertek Group by Swedish private equity firm EQT AB to 18 June, according to a report by Reuters citing a company statement on Thursday.
The extension gives both sides additional time to progress discussions over the proposed cash offer, which has already seen several iterations. Intertek had previously rejected three earlier approaches on valuation grounds but indicated last month it would be willing to recommend a £60 per-share bid if a firm offer were made.
The current proposal represents a roughly 40% premium to Intertek’s share price before the approach was first disclosed, and would rank among the largest private equity takeovers in UK corporate history if completed.
Intertek, which provides assurance, testing, inspection, and certification services across global supply chains, has also been reviewing strategic options including a potential separation of its business divisions to enhance growth and shareholder value.
The extended timeline signals that negotiations remain active, with investors closely watching whether EQT will proceed with a formal offer or allow discussions to lapse.
