Intertek Board Backs EQT's £60/Share Takeover Bid at ~£9-10B

When a board recommends a takeover at a fixed cash price, the target stock typically converges toward that offer price — creating a spread trade opportunity for investors already holding shares or those considering entry below £60. Intertek shareholders are likely sitting on a near-term, defined exit at the offer price, though regulatory approval and shareholder vote risk remain. Broader UK mid-to-large cap investors should note this as another signal of private equity appetite for cash-generative, asset-light UK businesses trading at perceived discounts.

Formal offer document publication: expected within weeks of board recommendation. UK Competition and Markets Authority (CMA) review: likely triggered given deal size. Intertek shareholder vote: typically scheduled 4-6 weeks after formal offer document is posted.