EQT makes final $12.7 billion takeover bid for Intertek
EQT AB has made a final 9.4 billion pound offer for Intertek after three prior rejections. The bid comes as the British firm considers a possible company split.
EQT AB made a final £9.4 billion ($12.7 billion) cash offer for INTERTEK GROUP PLC on Tuesday. The Swedish private equity group raised its bid after the United Kingdom testing firm rejected three previous proposals. Investors are pressuring the board to accept the 60 pounds per share offer, which represents a premium over current trading.
Intertek shares rose 4.7% to over 52 pounds during early trade on Tuesday. Under the latest proposal, shareholders would receive 60 pounds per share in cash plus a potential 1.1 pounds dividend in fiscal 2025. EQT AB said the offer provides certain cash value superior to Intertek's standalone prospects.
