Intertek to quit FTSE 100 after agreeing £10bn EQT takeover

cityam06-18

Intertek had slapped down three previous offers from Swedish equity firm EQT FTSE 100 giant Intertek has agreed to a £10bn takeover by Swedish buyout firm EQT, triggering the latest high-profile ...

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This, and subsequent 54 and 58 per share offers were slapped down by the testing firm.Rejecting the third offer in early May, Intertek claimed it “significantly undervalues” the group.Peltz’s Lost Coast Collective holds roughly 1.2 per cent of Intertek. 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This, and subsequent £54 and £58 per share offers were slapped down by the testing firm.\n\nRejecting the third offer in early May, Intertek claimed it “significantly undervalues” the group. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLong-running saga over price tagDisputes over the firm’s share price centred on its plans to spin off its energy and infrastructure division, in a move which some investors claimed would add significant value that had been underpriced by EQT.But other high-profile shareholders had ramped up pressure on Intertek to engage with its prospective buyer in recent weeks. Nelson Peltz, the son of billionaire activist investor Nelson, said the market had become “skeptical” as to whether Intertek’s board was capable of lifting itself “out of the hold it finds itself in”.\n\nPeltz’s Lost Coast Collective holds roughly 1.2 per cent of Intertek. Other shareholders raised concerns over Intertek’s “fragile” governance.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"corporation","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2644017817","isCrawlerRequest":true}