Intertek $ITRK rose 12.6% to 4,914p by 1400 BST after confirming that it rejected EQT's indicative cash proposal at £51.50 per share. The market reaction, reported by Sharecast, reflected a fresh M&A catalyst well above the $500M Tier-1 threshold.

The primary source is Intertek's RNS response to EQT. Intertek said it received an unsolicited, indicative and conditional proposal on April 10, 2026, from EQT X EUR SCSp and EQT X USD SCSp, each represented by EQT Fund Management S.a r.l. The board reviewed the proposal with advisers and rejected it on April 13.

Deal point	Detail
Indicative price	£51.50 per Intertek share in cash
Intertek reaction	Unanimous board rejection
Board rationale	Proposal fundamentally undervalues Intertek and its future prospects
UK takeover deadline	5:00 p.m. on May 14, 2026

The proposal arrived shortly after Intertek started a strategic review to evaluate a possible separation, through sale or demerger, of its Energy & Infrastructure business from its Testing & Assurance activities. That timing matters because the board is now balancing a public takeover approach, a rejected valuation marker, and its own plan to unlock value through portfolio action.

Under Rule 2.6(a) of the UK Takeover Code, EQT must either announce a firm intention to make an offer by May 14 or state that it does not intend to proceed. The Panel on Takeovers and Mergers can extend that deadline, but absent an extension the next material event is now calendar-bound. Investors will watch whether EQT improves the terms, whether another bidder appears, and whether Intertek gives more detail on the strategic review before the deadline.

Not investment advice. Verify all figures with primary sources before acting.

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Intertek $ITRK jumps 12.6% after rejecting EQT's £51.50-a-share offer