Intertek, a UK-based product testing and inspection company, is set to leave the FTSE 100 after its board agrees to a takeover by private equity firm EQT. Multiple outlets report that the deal is valued at about £11 billion, with figures also described in US-dollar terms depending on the source and exchange rates. Reuters reports Intertek has agreed to a buyout worth roughly $14.5 billion, while the Financial Times describes the transaction as an £11 billion EQT acquisition. Bloomberg reports EQT’s purchase price at £9.3 billion, and the Wall Street Journal cites a higher USD value of $12.36 billion, reflecting different reporting conventions. The reports also indicate that major law firms are involved in the transaction, with Freshfields and Slaughter and May mentioned in coverage. The Guardian frames the development as part of a broader pattern of FTSE 100 companies being taken private, highlighting concerns about the number of new listings that follow such exits. Overall, sources agree on the core point: Intertek’s board has approved an EQT-led acquisition that will result in Intertek leaving the FTSE 100.
Intertek board agrees £11bn takeover by private equity group EQT
Intertek, a UK-based product testing and inspection company, is set to leave the FTSE 100 after its board agrees to a takeover by private equity firm EQT. Multiple outlets report that the deal is valu...
- Intertek’s board agrees to a takeover by private equity firm EQT.
- The deal is reported at around £11 billion, with corresponding USD values reported by some outlets.
- Intertek is expected to leave the FTSE 100 following the agreed takeover.
- Reporting differs on the exact valuation figures, which some outlets attribute to exchange-rate and reporting conventions.
- Coverage notes the transaction is part of an ongoing trend of FTSE 100 firms being taken private.
Another FTSE 100 firm falls to private equity. Where are the new listings? | Nils Pratley The GuardianIntertek board agrees £11bn takeover by private equity group EQT Financial TimesUK product testing firm Intertek agrees to $14.5 billion EQT buyout ReutersIntertek to quit FTSE 100 after agreeing £11bn EQT takeover City AMFreshfields and Slaughters lead £11bn EQT takeover of FTSE 100 Intertek Non-Billable
2 months agoYou can’t complain Intertek’s £10bn takeover happened – the problem is the lack of arrivals in the other direction It would be a stretch to describe the £10bn-ish takeover of Intertek as a landmark event for the London stock market or the FTSE 100 index.This is not an Arm Holdings moment – the purchase of that Cambridge chip designer by Japan’s SoftBank in 2016 provoked long (and continuing) agonising over the lack of whizzy tech stocks on the London market. Continue reading...
2 months agoIntertek board agrees £11bn takeover by private equity group EQT Financial TimesAnother FTSE 100 firm falls to private equity. Where are the new listings? | Nils Pratley The GuardianUK product testing firm Intertek agrees to $14.5 billion EQT buyout ReutersEQT Buys UK’s Intertek for £9.3 Billion in Latest LSE Exit Bloomberg.comEQT Agrees to Buy Intertek Group for $12.36 Billion WSJ
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