Intertek

Acquirer: EQT

Intertek, a FTSE 100 constituent, has rejected a sweetened £10bn bid from Swedish private equity firm EQT, citing that the offer significantly undervalues the company and its future prospects.Summary of transaction details:Value: £10bnSector: Industrials & EnergyAdvisor: Not disclosedKey Entities: Intertek, EQTLocation: London, UKNote: The bid rejection is part of Intertek's strategic review, which includes considering a sale or demerger of its Energy & Infrastructure division to maximize shareholder value.

Acquirer: EQT

FTSE 100 firm Intertek has unanimously rejected a takeover bid from Swedish private equity firm EQT. The offer, valued at £10.3 billion including debt, was deemed to significantly undervalue Intertek and its future prospects by its board and major shareholders. Summary of transaction details: Value: £10.3 billion (including debt) Sector: Business Services (Quality Assurance & Product Testing) Advisor: Not disclosed Key Entities: Intertek (Target), EQT (Acquirer/Investor) Location: Intertek (FTSE 100, largely UK-based operations/listing), EQT (Swedish Private Equity Firm) Note: Intertek's board and key investors argue that the company's intrinsic value, particularly considering its strong market position and the planned spin-off of its energy and infrastructure division, is higher than EQT's offer. They also cited significant execution risk associated with the conditional nature of the proposal.

Acquirer: EQT

Intertek has agreed to be acquired by EQT through Isotope Bidco in a take-private transaction that will see the testing and assurance company exit the London Stock Exchange.Summary of transaction details:Value: Approximately £11bn including debt, based on a £60 per share cash offer plus a final dividend of 107p per share.Sector: Business Services, focused on testing, inspection, certification and assurance.Advisor: Not disclosed in the article.Key Entities: Intertek, EQT and Isotope Bidco.Location: London-listed company with international operations.Note: The transaction follows multiple rejected bids and shareholder pressure, with EQT positioning Intertek as a long-term growth platform with opportunities for innovation and targeted M&A.