Intertek shares jump after EQT takeover approach revealed

Investing.com -- Shares in FTSE 100-listed testing and inspection giant Intertek have surged almost 10% on Thursday after Swedish private equity firm EQT confirmed it had made a takeover approach for the company, only to be rebuffed.

EQT, operating through its EQT X funds, disclosed that it submitted an indicative proposal on 10 April 2026 for a possible all-cash offer to acquire the entire issued share capital of Intertek.

The approach was rejected by Intertek's board three days later, on 13 April.

In a statement released today, EQT said it is "considering its options" following the rejection, though it cautioned that there is no certainty any formal offer will ultimately be made.

Under Rule 2.6(a) of the UK Takeover Code, EQT now faces a deadline of 5 p.m. on 14 May 2026 to either announce a firm intention to bid or walk away entirely. The deadline can be extended with consent from the Panel on Takeovers and Mergers.

Intertek, which provides quality assurance, testing, and certification services to businesses across more than 100 countries, announced earlier this week a strategic review to evaluate the potential separation, either through a sale or demerger, of Intertek Energy & Infrastructure from Intertek to “accelerate the growth of the group’s leading business lines in a highly attractive and growing quality assurance market.”

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