Swedish Firm EQT to Acquire Intertek in £10.7 Billion Deal
The takeover marks the latest in a series of acquisitions of London-listed companies by foreign bidders.
Intertek has agreed to be acquired by Swedish private equity firm EQT in a £10.7 billion deal, culminating a months-long negotiation process. The agreement values the inspection, product testing, and certification company at £9.3 billion, with an additional £1.4 billion in debt, according to terms announced on June 18, 2026.
EQT's final offer of £60 per share represents a 40 percent premium over Intertek's closing price before EQT's initial bid. Intertek shareholders will also receive the final dividend for 2025, bringing the total consideration to £61.077 per share. The company's board had previously rejected three lower offers from EQT, citing valuation concerns, but indicated a willingness to recommend the fourth offer last month following investor pressure.
"This offer represents an attractive opportunity for Intertek shareholders by delivering cash certainty today, and we are confident that Intertek will continue to thrive in the industry," said André Lacroix, Intertek's chief executive. Following the transaction, the Abu Dhabi Investment Authority and wealth fund Mubadala will hold minority stakes of 16 percent and 8 percent, respectively.
This acquisition ranks as Britain's third-largest private equity takeover, trailing the 2006 acquisition of airport operator BAA and the 2007 purchase of pharmacy chain Alliance Boots. Intertek's agreement comes amid a broader trend of foreign entities acquiring London-listed companies, a phenomenon EQT's bid has accelerated.
Other recent significant acquisitions include the agreed takeover of William Hill owner Evoke by Greece-based Bally's Intralot, and a potential £5.7 billion offer for energy firm DCC by private equity firms KKR and Energy Capital Partners. Earlier in 2026, Schroders accepted a £9.9 billion takeover from U.S. rival Nuveen, and Lloyd's of London underwriter Beazley agreed to be bought by Zurich Insurance for £8.1 billion.
Shares in Intertek saw a 1.6 percent increase, trading at £58.12, remaining below the offer price.