Intertek Rejects EQT's £10bn Bid at 580p — Shareholders Push Back
Intertek's board unanimously rejected a sweetened £10 billion takeover offer from Swedish private equity firm EQT, pitched at 5,800 pence per share — the third rejection following earlier bids at 5,150 pence. The board insists the offer significantly undervalues the FTSE 100 testing and certification company. Adding pressure, major Intertek shareholders are reportedly urging management to engage with EQT rather than dismiss the approach outright, and the stock slipped following the announcement.
When a board rejects a bid but shareholders push back, a deal can still happen — often at a higher price, which is where the opportunity lies. Intertek shares could see continued volatility as EQT may return with a fourth, higher offer, or walk away entirely. Investors holding ITRK are caught between a board playing hardball and shareholders who may force the conversation.
No fixed regulatory deadline published yet — watch for EQT's formal 'put up or shut up' deadline under UK Takeover Panel rules, which typically must be set within 28 days of a public approach being confirmed. Monitor Intertek investor relations announcements and UK Takeover Panel disclosures for any revised bid or withdrawal notice.
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