EQT Secures Deadline Extension for £9.4B Intertek Takeover Bid
EQT is trading near its 52-week low of $48.47 (8.9% above the low).
Summary
EQT has been granted an extension until June 18th to complete its due diligence and make a firm offer for Intertek. The latest proposal values Intertek at £60 per share, or £61.077 including the final dividend, totaling approximately £9.4 billion. This follows a series of increased offers from EQT for Intertek, which had previously rejected earlier bids. The extension indicates that the significant acquisition, valued at roughly $12 billion, is still actively being pursued and has not fallen through, suggesting continued progress in the negotiation process. The market will be watching for a firm offer or withdrawal by the new June 18th deadline.
At the time of this announcement, EQT was trading at $52.80 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $32.9B. 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.