Intertek (ITRK.L) accepts £10.7B EQT deal at £61.077 per share

£10.7B is the enterprise value attached to EQT's recommended cash acquisition of Intertek (ITRK.L). The June 18 RNS says Intertek shareholders will receive £60.00 in cash and keep a 107.7 pence FY25 final dividend, taking total value to £61.077 per share.

The source document is the London Stock Exchange RNS text distributed through Refinitiv. The RNS names Isotope Bidco as the buyer vehicle, indirectly owned by EQT funds and minority shareholders including Luxinva and Mubadala.

Deal item | Announced term
Cash consideration | £60.00 per Intertek share
FY25 final dividend retained | 107.7 pence per share
Total value | £61.077 per share
Equity value, cash consideration basis | About £9.3B
Enterprise value, cash consideration basis | About £10.7B
Premium to April 9 close | 59% on cash consideration, 62% on total value

The transaction clears the Tier-1 filter because it is an announced M&A deal well above the $500M threshold. The RNS states that the boards of Isotope Bidco and Intertek have reached agreement on a recommended acquisition of the entire issued and to-be-issued ordinary share capital, expected to be implemented through a UK scheme of arrangement unless Bidco elects a takeover offer route.

The offer also marks the end of a months-long approach sequence. The premium is measured against Intertek's £37.70 closing price on April 9, the last business day before EQT submitted its initial proposal. The total-value premium is 40% against the April 15 close of £43.63, the last business day before the offer period began.

Regulatory execution is the next risk line. The RNS lists approvals or waiting periods across the UK, Australia, Canada, Denmark, France, Italy, CFIUS and U.S. ITAR-related notification where applicable. Intertek shareholders still need to vote at the court meeting and general meeting before the scheme can become effective.