9 articles · Updated · The Wall Street Journal · May 8
The revised Tuesday offer was 58 pounds a share, valuing the testing and inspection group at 8.93 billion pounds, and was unanimously and unequivocally rejected on Friday.
Intertek said the bid significantly undervalued the company and carried substantial execution risk because of its conditional nature.
The company is pressing ahead with a strategic review, prioritising a sale process for its Energy & Infrastructure unit after receiving encouraging interest from potential buyers.
Is Intertek right to fear 'execution risk' in EQT's $12 billion bid amid a private equity credit crunch?
Can Intertek’s plan to split its business truly create more value than EQT's $12 billion cash offer?