LONDON (dpa-AFX) - Intertek Group plc (ITRK.L) on Wednesday said its board has received a final conditional takeover proposal from EQT at £60 per share in cash, after rejecting earlier bids of £51.50, £54.00 and £58.00 per share.
After reviewing the proposal with its advisers and engaging with shareholders, Intertek's board said it would be willing to recommend the offer if EQT makes a formal bid on the same financial terms and both sides agree on the final deal conditions and documentation.
The proposed offer would also allow Intertek shareholders to retain the fiscal 2025 final dividend of up to 107.7 pence per share, once approved at the company's annual general meeting on May 20, 2026.
To facilitate the process, Intertek has agreed to provide EQT with access to confirmatory due diligence, while work on the company's strategic review has been paused.
EQT now has until June 11, 2026 to either make a formal offer for Intertek or withdraw its interest, after the UK Panel on Takeovers and Mergers extended the deadline.
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