Intertek shares climb as EQT says takeover proposal rejected

(Alliance News) - EQT Fund Management Sarl, in its role as manager of the EQT X fund, on Thursday confirmed EQT submitted an indicative cash proposal to acquire Intertek Group PLC, that was subsequently rejected.

EQT Fund Management did not disclose the financial terms of the bid, but said the possible offer was sent on Friday last week, and rejected by the London-based assurance, inspection, product testing and certification company on Monday.

Shares in Intertek shot up 11% to 4,857.00 pence on Thursday afternoon in London. The wider FTSE 100, of which Intertek is a constituent, was up 0.6%.

EQT noted there is no certainty an offer will be made nor as to the terms of which one may be made.

By Christopher Ward, Alliance News reporter

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