Intertek Board Accepts EQT's £10 Billion Takeover Offer

The board of British testing and inspection company Intertek has accepted a takeover offer worth approximately £10 billion from a consortium led by Swedish private equity group EQT. Under the deal, EQT will invest alongside Abu Dhabi's sovereign wealth funds ADIA and Mubadala. The offer entails a cash payment of 5,100 pence per Intertek share, representing a premium of about 32% over the company's closing price on May 31. Intertek's board stated that the offer is fair and reasonable for the company and its shareholders, and recommended that shareholders accept the proposal. EQT and its partners aim to leverage Intertek's strong position in global testing, inspection, and certification services. The deal is expected to provide significant opportunities to enhance the company's growth potential and improve operational efficiency. Founded in 1885, Intertek operates in over 100 countries, providing testing and inspection services across various sectors including energy, transportation, food, and consumer products. Completion of the deal is subject to regulatory approvals and a shareholder vote. This is not investment advice.