The board of British testing and certification group Intertek is prepared to recommend EQT's cash offer of 60 pounds per share, subject to the submission of a formal bid and approval of final terms, according to a press release.
The offer follows previously rejected proposals from EQT at 51.50, 54, and 58 pounds per share. Under the terms, Intertek shareholders will also be entitled to retain the proposed final dividend for the 2025 financial year of up to 107.7 pence per share without any reduction to the offer price.
The board simultaneously stated that it maintains high confidence in the company's standalone strategy and the value-creation potential outlined in the strategic review presented in April.
Intertek shares are soaring 7.3 percent on the London Stock Exchange.
Intertek Group plc is one of the world's leading groups specializing in analysis, control and certification of products and systems. Net sales break down by activity as follows:
- control and certification services for consumer goods (28,7%): textiles, footwear, toys, stationery, household appliances, consumer electronics, information and communication technology products, and products from the automotive, aerospace, lighting, construction, renewable energy and healthcare industries. Also, the group is developing an activity to monitor the certification of international standards;
- development of quality assurance solutions for the industry and infrastructures (25%): for the supply chain in the building and construction, renewable energies, oil and gas, petrochemicals, minerals and other industries;
- cargo inspection, analytical evaluation, calibration and technical services to the oil and biofuels industries (21.2%);
- auditing and business process support services (15%): in the areas of science, regulation, environment, health, safety, and quality;
- monitoring and assessment of petroleum and agricultural products (10.1%). Besides, Intertek Group plc offers inspection services to government system and regulators to support commercial activities, contributing to the movement of goods across borders.
At the end of 2025, the group has a network of more than 1,000 inspection offices and laboratories in the world.
Net sales are distributed geographically as follows: the United Kingdom (6.9%), the United States (29%), China and Hong Kong (18%), Australia (5.2%) and other (40.9%).
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