Intertek rejects EQT's £58/share bid, advancing plan to split the company.

Intertek Group PLC has unanimously rejected a third takeover offer from private equity firm EQT, which valued the company at £58 per share in cash. The board considers the offer significantly undervalued and risky due to its conditional terms. Instead, Intertek is moving forward with a strategic review to potentially split the company into two divisions: Testing & Assurance and Energy & Infrastructure. The board is prioritizing a sale of the Energy & Infrastructure division and has already attracted buyer interest, aiming to complete the review by mid-2027. EQT must decide by 14 May whether to make a firm bid or withdraw under Takeover Code rules.