On 13 May 2026, the Board of Intertek Group plc (LON:ITRK) released an announcement regarding a final* conditional proposal that it had received on 11 May 2026 from EQT X EUR SCSp and EQT X USD SCSp, each represented by its manager (gérant) EQT Fund Management S.à.r.l. to acquire the entire ordinary share capital of Intertek.
Further to that announcement, EQT’s due diligence and the agreement of definitive transaction documentation have been progressed over the last four weeks.
EQT has requested a short period of additional time to complete its confirmatory due diligence and governance processes. Subject to the completion of those processes, EQT has confirmed to the Board of Intertek that the financial terms of the Final Proposal remain unchanged at £60.00 per share in cash (the “Cash Consideration”), with Intertek entitled to pay the final dividend of 107.7 pence per share for the 2025 financial year (approved at the Intertek Annual General Meeting on 20 May 2026) without any reduction to the Cash Consideration.
In that context, the Board of Intertek has requested, and the Panel on Takeovers and Mergers (the “Panel”) has consented to, a further extension to the date by which EQT must either announce a firm intention to make an offer for Intertek under Rule 2.7 of the Code or announce that it does not intend to make an offer for Intertek, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00 pm on 18 June 2026. This deadline may only be extended with the agreement of Intertek and the Panel in accordance with Rule 2.6(c) of the Code.
A further announcement will be made as and when appropriate.
The person responsible for arranging for the release of this announcement on behalf of Intertek is Ida Woodger.
Takeover Code notices
For the purposes of Rule 2.5(a)(i) of the Code, this announcement is being made with the approval of EQT. EQT reserves the right to waive any pre-conditions to announcing an intention to make a firm offer pursuant to Rule 2.7 of the Code. There can be no certainty that any offer will be made, even if the pre-conditions referred to above are satisfied or waived.
*The financial terms of the Final Proposal are final and will not be increased, save that EQT has reserved the right to increase the financial terms of the Final Proposal where: (i) there is an announcement on or after 12 May 2026 of an offer or possible offer, including a partial offer, or a firm intention to make an offer for Intertek by any third party offeror or potential offeror, including where any such announcement is made by Intertek; or (ii) the Panel otherwise provides its consent.
In accordance with Rule 2.5 of the Code, EQT has reserved the right to make an offer for Intertek on less favourable terms than those set out in the Final Proposal: (i) with the agreement or recommendation of the Board of Intertek; (ii) if a third party announces an offer or possible offer, including a partial offer, or firm intention to make an offer for Intertek which, at that date, is of a value less than the value implied by the Final Proposal, including where any such announcement is made by Intertek; or (iii) following the announcement by Intertek of a Rule 9 waiver transaction pursuant to the Code or a reverse takeover. EQT has reserved the right to introduce other forms of consideration and/or vary the mix or composition of consideration of any offer. EQT has reserved the right to reduce the terms of the Final Proposal by the amount of any dividend, distribution or other return of value which is announced, declared, made, paid or becomes payable by Intertek after the date of this announcement, other than the FY25 Final Dividend.Intertek Group Plc (LON:ITRK) operates a network of more than 1,000 laboratories and offices in more than 100 countries, delivering innovative and bespoke Assurance, Testing, Inspection and Certification solutions for customers’ operations and supply chains. Intertek is a purpose-led company that brings Quality, Safety and Sustainability to Life.
