Intertek Set to Reject Sweetened 58 Pound EQT Offer
The British testing and certification group considers the latest 9.3 billion pound bid from the Swedish private equity firm to be an undervaluation. While the board is expected to formalize the rejection this week, the improved offer has increased the likelihood of a potential deal if the price rises further.
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INTERTEK GROUP PLC is set to reject a sweetened £58-per-share ($78.85) takeover bid from EQT AB. This follows previous rejections of £51.50 and £54 offers from the Sweden-based private equity firm. A successful deal could value the United Kingdom-based testing group at more than £10B ($13.59B).
