Intertek Group plc (ITRK.L) Thursday revealed that it has rejected an unsolicited takeover proposal from EQT, stating the offer significantly undervalues the company.
Intertek said it received an indicative, non-binding proposal on April 10, 2026, from EQT to acquire its entire share capital for £51.50 per share in cash.
Following a review with advisers, the board unanimously rejected the proposal on April 13, saying it does not reflect the company's value or future growth prospects.
Under U.K. takeover rules, EQT now has until May 14, 2026, to either make a firm offer or walk away, unless the deadline is extended with regulatory approval.
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