EQT Raises Intertek Bid to £60 a Share as Rejections Force Sweetened 59% Premium
Updated
Updated · Bloomberg · May 12
EQT Raises Intertek Bid to £60 a Share as Rejections Force Sweetened 59% Premium
4 articles · Updated · Bloomberg · May 12
£60 a share in cash is EQT AB’s latest offer for Intertek Group, lifting its bid again after the UK testing company repeatedly rejected earlier approaches.
The revised proposal values the offer at a 59% premium to Intertek’s April 9 share price, the day before EQT made its initial bid.
107.7 pence per share from Intertek’s final dividend, announced in March, would also be included in the proposal.
The higher bid shows EQT pressing to secure a takeover of the UK product-testing business despite resistance from Intertek.
With a £9.7 billion final offer, will Intertek's board choose guaranteed cash or gamble on its own strategic breakup?
How will a private equity takeover of a testing giant reshape global standards for product safety and compliance?