Intertek Rejects 8.93 Billion Pound Takeover Bid From EQT
Intertek rejected a revised 8.93 billion pound bid from EQT. The board said the 58 pounds per share offer undervalues the firm and carries high execution risk.
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INTERTEK GROUP PLC rejected a 8.93 billion pound ($12.12 billion) takeover bid from EQT AB on Friday. The proposal is the third attempt by the Swedish firm to acquire the London-listed product testing specialist. Rejection signals high valuation expectations for United Kingdom industrial assets.
