Intertek Group Plc, a London-listed engineering and testing services company, has agreed to be acquired by Swedish private equity firm EQT. Multiple outlets report the purchase price in the range of about £9.3 billion to £9.5 billion, describing it as Intertek’s exit from the London Stock Exchange and as part of a broader wave of foreign acquisitions of UK listed firms. Bloomberg says the takeover bid is for £9.3 billion (about $12.3 billion) and follows weeks of negotiations leading to the agreement. The Independent reports that Intertek accepts a bid of £61.08 per share from EQT, ending the talks between the companies. A separate report in the Daily Mail frames the transaction as part of a wider takeover trend in London in which investors search for opportunities to buy firms. Together, the sources indicate that EQT’s offer ends Intertek’s status as a listed company on the LSE, pending the usual completion steps for a take-private transaction.
Intertek agrees takeover by EQT in deal valuing company about £9.3bn–£9.5bn
Intertek Group Plc, a London-listed engineering and testing services company, has agreed to be acquired by Swedish private equity firm EQT. Multiple outlets report the purchase price in the range of a...
- Intertek Group Plc agrees to be acquired by EQT, a Swedish private equity firm.
- The deal value is reported at about £9.3 billion to £9.5 billion, depending on source.
- The Independent reports EQT’s offer is £61.08 per share.
- The agreement ends weeks of negotiations between Intertek and EQT.
- The transaction is expected to remove Intertek from the London Stock Exchange, subject to deal completion.
Intertek now becomes the latest British firm to fall into foreign hands, amid a takeover frenzy that has seen predators scouring the London stock market for firms they can snap up cheaply.
2 months agoLondon-listed Intertek has accepted a £61.08-a-share bid from EQT, ending weeks of talks between the pair.
2 months agoIntertek Group Plc agreed to a £9.3 billion ($12.3 billion) takeover bid from private equity firm EQT AB, a deal that will mean another British company leaves the London stock market.
2 months ago
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