KEY TAKEAWAYS
- Intertek confirmed it would recommend EQT’s sweetened offer of £60 per share plus a £1.10 dividend, representing a 40% premium to its April 15 closing price.
- The deal would be Britain’s third-largest private equity takeover on record, behind the acquisitions of BAA and Alliance Boots.
- EQT must announce a firm offer or walk away by 11 June 2026 under UK Takeover Code rules.
- Intertek has paused its strategic review, which considered splitting the company’s Testing and Assurance and Energy and Infrastructure divisions, while confirmatory due diligence proceeds.
Intertek Group confirmed on 13 May 2026 that it plans to recommend EQT AB’s £9.4 billion takeover bid to shareholders. As Reuters confirmed, the board said it was “minded to recommend” EQT’s fourth and final offer: £60 per share in cash plus a £1.10 annual dividend, after rejecting three earlier bids over valuation concerns.
The decision follows pressure from shareholders Lost Coast Collective, PrimeStone Capital, and Palliser, who argued Intertek could no longer justify remaining independent at its trading levels.
The deal follows rising demand for UK AI and automation testing infrastructure, alongside a £500 million government commitment to homegrown tech requiring Intertek’s specialized certification and compliance services.
Why Testing Infrastructure Is the Real Tech Story Here
Intertek is not simply an industrial services company, t is a critical technical gatekeeper for the digital economy.
Its Testing and Assurance division certifies the safety and compliance of semiconductors, connected devices, electric vehicle systems, data centre hardware, and the AI-enabled sensors increasingly embedded in manufacturing and logistics environments.
As MarketScreener confirmed, the division generates the majority of Intertek’s revenue and operates across more than 100 countries.
Under private ownership, EQT has indicated it intends to accelerate Intertek’s digital services strategy, including expanding its AI-powered remote inspection capabilities and cloud-based certification platforms that allow manufacturers to conduct compliance testing faster and with less physical intervention.
That infrastructure thesis explains EQT’s persistence through four bids, mirroring investment logic behind deals like Nyobolt’s unicorn round, where AI-enabling hardware infrastructure is attracting conviction alongside AI software.
What the Takeover Timeline Now Looks Like
As MSN notes, EQT has until 11 June 2026 under UK Takeover Panel rules to either announce a firm intention to make an offer or walk away for at least six months.
Intertek’s board has granted EQT access to confirmatory due diligence while the strategic review, which had been assessing a potential split between its two main divisions, is formally paused.
Shares rose as much as 8%, hitting a four-year high of 57.2 pence. If completed, the deal would become Britain’s third-largest private equity acquisition and take Intertek private for the first time since its London Stock Exchange listing.
The deal’s outcome will help decide how one of the UK’s most important industrial services businesses fits into a future where AI-driven manufacturing and product certification are becoming closely linked.
Ultimately, this highlights how quickly the UK’s tech governance sector is changing through major court battles and industry deals.
