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Intertek Group PLC on Tuesday said it is reviewing a higher takeover bid from EQT Fund Management Sarl, having rejected two previous proposals. Luxembourg-based investment advisory firm EQT, in its role as manager of the EQT X fund, boosted its potential offer for Intertek to 5,800 pence per share from 5,400p per previously. Interek, a London-based assurance, inspection, product testing and certification company, said it had rejected the 5,400p bid, as well as an opening approach priced at 5,150p per share, saying it ‘fundamentally undervalues Intertek and its future prospects’. On Tuesday, Intertek said it is reviewing EQT’s ‘unsolicited, indicative and conditional revised proposal’ with its advisers and a further announcement will be made in due course. It advised shareholders to ‘take no action at this time’. Shares in Intertek were up 7.3% to 5,156.00p each in London on Tuesday for a market value of £7.93 billion. It was the biggest riser on the FTSE 100, which was down 0.9%. Intertek shares are up 11% over the past 12 months. EQT said its latest proposal delivers ‘certain and accelerated cash value for shareholders, superior to the range of outcomes associated with Intertek’s standalone prospects’. It has submitted this ‘significantly higher’ plan with a view to securing ‘prompt and constructive’ engagement from the board of Intertek, it added. Under UK takeover rules, EQT has until May 14 to either announce a firm intention to make an offer or confirm that it does not intend to proceed. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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