Finance
UK's Intertek Gets Sweetened Proposal From Private Equity Firm Eqt, Ft Reports
Published by Global Banking & Finance Review®
Posted on April 22, 2026
2 min readLast updated: April 22, 2026
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EQT AB has raised its takeover offer for Intertek to £54 per share, valuing the company at £9.7 billion. Intertek’s earlier rejection of a £51.50 proposal led to a strategic review and share surge amid potential business split.
UK's Intertek considers EQT's $11.2 billion sweetened takeover bid
Intertek Reviews Enhanced Takeover Proposal from EQT
Details of the Sweetened Offer
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.
Valuation and Market Reaction
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.
Background and Strategic Moves
Intertek's Business and Recent Developments
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.
Exchange Rate Information
($1 = 0.7400 pounds)
Reporting Credits
(Reporting by Yamini Kalia, Prerna Bedi and Ankita Bora in Bengaluru; Editing by Shilpi Majumdar, Kirsten Donovan)
Key Takeaways
- •EQT sweetened its bid to £54/share, a 5 % increase from the prior £51.50 offer, valuing Intertek at ~£9.7 billion ($13.1 billion) (FTA report).
- •Intertek previously rejected the initial £51.50/share offer as undervaluing the company; EQT now has until May 14, 2026 to launch a firm offer or withdraw (Reuters, Investing.com).
- •Following the offer and rejection, Intertek launched a strategic review—including a potential split of Energy & Infrastructure from Testing & Assurance—to unlock value; analysts view this as partly defensive (Morningstar, Jefferies).
Frequently Asked Questions about UK's Intertek gets sweetened proposal from private equity firm EQT, FT reports
1What is EQT's latest offer for Intertek?
EQT's latest offer for Intertek values the company at £9.7 billion, proposing £54 per share.
2How much did EQT increase its Intertek bid by?
EQT increased its Intertek offer by 5% from its initial bid, from £51.5 per share to £54 per share.
3How did Intertek's share price react to the news?
Following the report of the improved offer, Intertek shares rose as much as 5.5% to £51.6 before settling up 1.5%.
4Did Intertek respond to EQT's revised takeover proposal?
Intertek did not immediately respond to the revised takeover proposal from EQT.
5Why is Intertek considering splitting its business?
Intertek announced plans to explore a business split, described by analysts as 'defensive,' after rejecting EQT's initial offer.