(Alliance News) - EQT Fund Management Sarl, in its role as manager of the EQT X fund, on Thursday confirmed EQT submitted an indicative cash proposal to acquire Intertek Group PLC, that was subsequently rejected.
EQT Fund Management did not disclose the financial terms of the bid, but said the possible offer was sent on Friday last week, and rejected by the London-based assurance, inspection, product testing and certification company on Monday.
Shares in Intertek shot up 11% to 4,857.00 pence on Thursday afternoon in London. The wider FTSE 100, of which Intertek is a constituent, was up 0.6%.
EQT noted there is no certainty an offer will be made nor as to the terms of which one may be made.
By Christopher Ward, Alliance News reporter
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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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