EQT has increased its bid to almost 拢9 billion for Intertek Group plc.
Shares in the total quality assurance provider have jumped 7% today (writing at 3pm) to 拢51 after the Swedish private equity fund said it had submitted an offer for 拢58 per share in cash.
It follows the rejection of previous EQT proposals of 拢51.50 and 拢54 per share.
The latest bid represents a premium of 54% to the closing share price of 拢37.70 per share as at 9th April 2026 – the day before EQT submitted its initial proposal to FTSE 100 firm Intertek.
London-headquartered Intertek operates a network of more than 1,000 laboratories and offices in more than 100 countries.
The firm said today it would review the latest proposal.
In early March Intertek鈥檚 shares fell from around 拢47 to below 拢36聽despite announcing a third consecutive year of double-digit growth.
Highlights included revenue growth up 4.3 per cent to 拢3,432m and profit before tax of 拢493.4m.
However the EQT bids have seen it bounce back and then some.
Listed since 2002, Intertek’s share price peaked at almost 拢65 in 2020.