Intertek to Accept EQT's $12.7 Billion Takeover Offer

• EQT's latest proposal offers £60 per share for Intertek, valuing the deal at £9.4 billion ($12.7 billion)
• Intertek had previously rejected multiple earlier offers from EQT on valuation grounds
• EQT must announce a firm intention to make an offer or withdraw by June 11, 2025

Summary

British product testing company Intertek is likely to accept a £9.4 billion ($12.72 billion) takeover offer from Swedish private equity firm EQT, following multiple rejected proposals over valuation concerns. Under the latest proposal, EQT has offered £60 per share.

Intertek has paused its ongoing strategic review—which could have resulted in splitting the company into two separate businesses—to grant EQT access to confirmatory due diligence. However, the company cautioned that a final deal remains uncertain.

EQT faces a June 11 deadline to either announce a firm intention to proceed with the acquisition or withdraw from negotiations.

Market Implications:

This potential transaction represents a significant private equity move in the testing, inspection, and certification (TIC) sector. The deal values Intertek at a substantial premium, suggesting EQT sees strong value in the company's market position and growth prospects. The paused strategic review indicates management believes a complete sale may deliver better shareholder value than a corporate split. If completed, this would mark one of the larger UK corporate takeovers by a private equity firm in recent years and could trigger further consolidation interest in the industrial services sector.

The June 11 deadline creates a definitive timeline for investors, with share price likely trading close to the £60 offer level pending deal certainty. The transaction is subject to due diligence completion, meaning execution risk remains until a firm offer is announced.