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EQT makes fourth takeover bid for UK's Intertek, now worth $12.7 billion 

Tue, 12th May 2026 08:31

* EQT's latest bid is at 60 pounds per ​share

* Investors ‌have urged Intertek to engage with EQT

* Intertek shares jump 4.7%

May 12 (Reuters) - Swedish ⁠private equity group EQT AB made a sweetened and ⁠final9.4 billion pound ($12.7 billion) takeover ​proposal for Intertek on Tuesday, after three of its earlier bids were rejected by the British product testing company. Shares in the London-listed firm were up 4.7% ​at ‌over 52 pounds in early trade, after EQT said Intertek shareholders will receive 60 pounds per share in cash and a possible 1.1 pounds in fiscal 2025 dividend, under the latest offer.

Intertek has snubbed EQT several times for ​undervaluing it and has instead chosen to focus on a review which ‌could see it split in two, even as its investors PrimeStone Capital and Palliser have urged Intertek's board to ‌engage with EQT.

Before the latest offer, PrimeStone had already said EQT's offer had not "significantly undervalued" Intertek.

Intertek, which launched its review a day after receiving EQT's ​first bidin early April, has argued that a takeover carried high execution risks, and said ‌it had got "encouraging levels" of interest for its energy and infrastructure unit.

"EQT believes the final proposal delivers certain and accelerated cash value at a full valuation ⁠for Intertek shareholders, ⁠superior to the range of outcomes associated ‌with Intertek's standalone prospects," the private equity group said on Tuesday.

Intertek did not respond to a Reuters ​request for ​comment on the latest proposal.

The Swedish firm has until ‌Thursday, May 14 to announce a firm intention to make an offer for Intertek.

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