Intertek Agrees to £9.3 Billion Acquisition by EQT After Prolonged Pursuit
EQT is trading near its 52-week low of $48.47 (5.2% above the low) on elevated volume (1.8× avg).
Summary
Intertek Group has officially agreed to be acquired by EQT for approximately £9.3 billion. Intertek shareholders will receive £60 in cash and a final dividend of 107.7 pence per share. This agreement follows a prolonged pursuit by EQT, which included multiple rejected offers and an improved bid in April, confirming yesterday's report of an impending deal. This is a substantial acquisition for EQT, representing a significant expansion into quality assurance solutions and a major strategic move for the company.
At the time of this announcement, EQT was trading at $51.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $31.7B. The 52-week trading range was $48.47 to $68.24. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: dpa-AFX.