Intertek agrees £10.9 billion EQT takeover, shares jump on LSE

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-23, 21:45.

Intertek Group PLC (GB0031638363) has agreed to be acquired by Swedish private equity investor EQT in a deal valuing the company at about £10.9 billion, as highlighted by Reuters and sector reports on the London Stock Exchange where the shares trade.

What the EQT deal includes

According to a June 23 report citing Reuters, EQT’s offer values Intertek at £61.08 per share, implying a roughly 40 percent premium to the level before takeover talks became public. The transaction size, including debt, is put at around £10.9 billion, which places it among the larger recent UK private equity buyouts.

The deal follows several months of negotiations in which EQT is reported to have submitted four separate proposals before an agreement was reached. Intertek’s board has endorsed the offer, and the transaction is structured as a takeover of the entire listed group, meaning the Intertek stock would be taken off the London market once the deal completes, subject to shareholder and regulatory approvals.

How analysts view Intertek now

Even ahead of the takeover announcement, Intertek was seen as a steady compounder by several research platforms, supported by mid-single digit revenue growth and margin progression reported in its 2025 full-year figures. In March 2026 the company disclosed revenue of £3,432 million for 2025, up 4.3 percent at constant currency, with adjusted operating profit of £620 million and a margin of 18.1 percent, reinforcing the cash-generative profile that private equity bidders typically target.

On consensus data compiled by Simply Wall St, analysts had been trimming their standalone price targets only marginally, with an average around £55.5 per share before the deal, indicating the agreed £61.08 bid comes at a premium to recent fundamental valuations. This suggests EQT is paying up for control and future growth options in Intertek’s global testing and inspection platform, rather than just matching prior broker expectations.

The business behind the offer

Intertek operates globally as a provider of testing, inspection and certification services across sectors including consumer goods, cosmetics, personal care, manufacturing and energy. In 2025 the group's World of Energy division saw a 1.3 percent revenue decline, while most other segments posted growth, indicating a diversified revenue base where weaknesses in some industrial markets are balanced by resilience in consumer and regulatory-driven demand.

That diversity, combined with recurring testing and certification needs, offers the kind of predictable cash flows attractive to buyout funds, especially in regulated industries where quality assurance is non-discretionary. EQT is expected to use its capital and network to support further expansion in high-growth regions such as Asia-Pacific and to deepen Intertek's presence in areas like cosmetics testing, where regulatory scrutiny and brand requirements are increasing.

Where the Intertek shares trade today

Intertek Group PLC shares (GB0031638363) are listed on the London Stock Exchange under the ticker ITRK, with trading in pounds sterling. As of the most recent close cited in analyst data on June 23, 2026, the shares were priced below the £61.08 offer level, reflecting the usual discount to the agreed takeover price before completion on the LSE.

This article is for informational purposes only and does not constitute investment advice, a recommendation or an offer to buy or sell any securities. All data are based on sources believed to be reliable but cannot be guaranteed.