Intertek May Back EQT Takeover Bid After Pressure From 2 Activist Investors

5 articles · Updated · Bloomberg · May 13

Intertek is now considering recommending EQT’s takeover bid, marking a reversal after earlier resistance to the approach.
Pressure from 2 activist investors — Nelson Peltz and Chris Hohn’s TCI, referred to here as Harris in the report — appears to have pushed the company toward a more supportive stance.
That shift suggests shareholder demands are gaining traction in the deal process and raises the odds that EQT’s bid could win board backing.
The episode underscores how activist investors can reshape M&A outcomes by forcing boards to revisit positions on takeover offers.

Could Intertek's rejected breakup plan have created more value than EQT's £9.4 billion cash offer?

With activists forcing the sale, what does private equity ownership mean for the future of Intertek's 40,000 employees?

Does this activist victory signal a new wave of take-private deals for undervalued UK companies?