Sources with knowledge of the matter have disclosed that UK testing company Intertek has agreed to a privatization offer from Swedish private equity behemoth EQT, in a deal valued at approximately £10.6 billion (around $14.1 billion), including debt.
This agreement brings to a close a months-long acquisition saga. During this period, EQT made four separate offers to Intertek, with three being rebuffed on the grounds of an insufficient valuation. Following mounting pressure from investors to secure a deal, Intertek ultimately accepted EQT's final proposal.
According to data compiled by the London Stock Exchange Group (LSEG), the proposed transaction values Intertek's equity at £9.4 billion based on a per-share price of £60. This would rank as the UK's third-largest private equity buyout, trailing only the 2006 acquisition of airport operator BAA and the 2007 purchase of pharmacy chain Alliance Boots.
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