EQT Raises Intertek Takeover Proposal to £9.4 Billion
Summary
EQT Corp has increased its takeover proposal for UK-based Intertek to £9.4 billion (approximately $11.8 billion USD). The revised offer is £60 per share in cash, a significant increase from previous proposals of £51.50 and £54.00 per share. This development follows earlier news from April 29th, which indicated EQT was preparing an improved takeover offer for Intertek, and this headline provides the specific, material details of that anticipated higher bid. This represents a substantial M&A event for EQT, demonstrating its commitment to the acquisition but also implying a higher financial outlay. Traders will be watching for Intertek's official response to this final proposal and any further details regarding the financing structure of the deal.
At the time of this announcement, EQT was trading at $56.72 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $35.3B. The 52-week trading range was $48.47 to $68.24. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: ShareCast.