UK's Intertek considers EQT's $11.2 billion sweetened takeover bid

* Intertek reviewing ​EQT's ⁠improved 54 pound-per-share cash offer

* Intertek ​shares up 2.2%

* EQT faces May 14 deadline to make firm ​offer ‌or withdraw

April 22 (Reuters) - British product testing firm Intertek on Wednesday ⁠said it is reviewing a ⁠sweetened takeover proposal from Swedish ​private equity group EQT AB , valuing it at 8.3 billion pounds ($11.22 billion). EQT is now offering 54 pounds ​per ‌share in cash, after Intertek's board rejected an earlier 51.50 pound a share bid saying it undervalued the firm.

The Financial Times first reported the news ​of EQT's improved takeover proposal, which it said valued ‌Intertek at 9.7 billion pounds, including debt.

EQT, which did not respond to a ‌request for comment, must decide whether to make a firm offer for Intertek by May 14 or walk ​away.

Intertek shares rose as much as 5.5% to 51.6 pounds ‌and were up 2.2% at 1508 GMT. Last week, Intertek, which helps companies ensure their products, operations and supply chains ⁠meet ⁠quality, safety and sustainability standards, said it ‌was exploring a split of its two businesses, a move that ​analysts ​have since described as "defensive" following the ‌disclosure of EQT's first takeover bid.

Intertek Group