EQT raises its Intertek bid to £8.3 billion but the board rejects the £54-a-share offer, escalating the contest for the FTSE 100 testing and certification group
EQT has increased its takeover proposal for Intertek Group, the FTSE 100 quality assurance and testing services company, to £8.3 billion (£54 a share), which Intertek's board unanimously rejected as undervaluing the company, according to reports cited across multiple PE intelligence sources. The sweetened offer follows EQT's earlier £51.50-a-share approach, which Intertek's board also rejected, and reflects negotiated price discovery amid weeks of Iran-war-driven equity volatility. Intertek provides testing, inspection, and certification services across consumer goods, chemicals, and industrials, sectors in which quality assurance demand has proven defensive. The company has previously emphasised its standalone strategic credibility. At £8.3 billion, the transaction would rank among the largest European take-private attempts of 2026. No advisers have been named in the available sources. A deal of this scale would attract CMA (Competition and Markets Authority) review under the UK's voluntary, non-suspensory merger control regime, and potentially parallel filings in EU and other jurisdictions given Intertek's global footprint. The EQT platform continues to deploy capital from its latest fundraising cycle, and the Intertek bid reflects the firm's focus on high-quality, cash-generative business services assets that carry predictable revenue through long-term client contracts.
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