The Guardian — Mergers and Acquisitions

Lab Testing Group Intertek to Back £10.6bn Takeover by Swedish Firm EQT

Intertek, the FTSE 100 laboratory testing group, announced it is "minded to recommend" a £60‑a‑share ($77) takeover bid from Swedish private‑equity firm EQT, valuing the company at £10.6 bn ($13.6 bn) including debt. The offer follows three earlier proposals and sparked a 7% jump in Intertek’s share price to £56.65 ($72.5). EQT, backed by the Wallenberg family whose empire is worth roughly $40 bn, sees the deal as a platform to expand its industrial portfolio. Intertek’s 45,000 staff operate over 1,000 labs, generating $2.4 bn from product testing and $2.0 bn from its energy‑infrastructure arm.