Britain's Intertek set to reject EQT's sweetened takeover offer, FT reports (updated)

Intertek

06/05/2026 19:52

Adds background and details from paragraph 2 onwards

May 6 (Reuters) - Britain's Intertek ITRK.L is set to reject EQT's EQTAB.ST sweetened 58-pound-per-share offer ($78.85), the Financial Times reported on Wednesday, citing people familiar with the matter.

Intertek, which previously rejected EQT's bids of 51.50 pounds and 54 pounds per share last month, believes the Swedish private equity firm's improved offer still undervalues the company, the report said.

The board is expected to reject the bid as early as this week, although no final decision has been made, the report added, citing sources.

EQT's latest offer is closer to a price Intertek would accept, the report said, raising the prospect that Intertek could be taken over in a deal worth more than 10 billion pounds ($13.59 billion) if the buyout firm increases its bid again.

Reuters could not immediately verify the report. Intertek and EQT did not immediately respond to Reuters' requests for comment.

A British product testing and certification group, Intertek is
considering breaking up the company
, a move that could see it split into separate energy and infrastructure, and testing and assurance businesses, either through a sale or a spin-off.

On Tuesday, London-listed Intertek shares rose to their highest since March 2025 after the
company said it was reviewing a revised takeover bid
 from the Swedish private equity group valuing it at 8.93 billion pounds ($12 billion).

($1 = 0.7358 pounds)

 (Reporting by Abu Sultan in Bengaluru; Editing by Vijay Kishore and Tasim Zahid)

 ((Abu.Sultan@thomsonreuters.com;))