Intertek recommended for £61.08-a-share takeover, FTSE 100 shares trade near offer level

By Julia Schmitt, Sector & Peer Group desk. Reviewed prior to publication on 2026-06-26, 16:23.

Intertek Group plc (GB0031638363) sits in focus on the London Stock Exchange after EQT, via Isotope Bidco Limited, agreed a recommended final cash offer that values the testing and inspection specialist at roughly £10.9bn. The deal terms set a total consideration of £61.08 per share, combining £60.00 in cash with a permitted FY25 final dividend of 107.7 pence according to the offer documentation.

What the takeover offer sets out

The recommended final cash acquisition by EQT Fund Management S.à r.l., acting through Isotope Bidco Limited, offers Intertek shareholders £60.00 in cash per share plus a FY25 final dividend of 107.7 pence, giving total value of £61.08 per share. The offer implies an equity value of around £9.5bn and an enterprise value of approximately £10.9bn for Intertek, positioning the transaction among the larger recent UK deals in the testing and certification space.

According to the deal announcement, the offer represents a premium in the range of roughly 38 percent to 64 percent over recent Intertek share prices and volume-weighted averages before the approach, underlining the strategic value EQT sees in the FTSE 100 group. The acquisition is structured as a court-sanctioned scheme of arrangement under UK law, with completion targeted for Q4 2026 or Q1 2027 subject to shareholder and regulatory approvals.

Where Intertek shares trade against the bid

In London trading on the LSE, Intertek shares have moved close to the agreed offer terms, reflecting the market’s assessment that the deal has a realistic chance of completion once conditions are met. The implied takeover valuation compares Intertek to global peers such as SGS and Bureau Veritas, where investors closely track acquisition premiums in the testing, inspection and certification sector.

Commentators in the legal and financial press point out that the transaction adds to a series of UK-listed companies being acquired by international private equity buyers, reinforcing the role of FTSE 100 constituents as targets when valuation and strategic fit align. The agreed premium and enterprise value level highlight Intertek’s cash-generating profile and its position in global quality assurance, which EQT aims to build on post-acquisition.

The business behind the takeover interest

Intertek generates its revenues by providing quality assurance services across testing, inspection, certification and assurance to customers in consumer goods, industrial, energy, transportation and healthcare. The group’s laboratories and field operations test products and materials for safety, performance and regulatory compliance, and certify processes and management systems to recognized international standards.

In its 2024 full-year results, Intertek reported robust revenue growth and underlined a significant value growth opportunity, alongside an initial £350m share buyback and a medium-term margin target raised to at least 18.5 percent. That focus on margins and capital returns is a key factor behind EQT’s readiness to pay a marked premium, as private equity investors often seek scalable, cash-generative platforms in regulated service niches.

Where the Intertek shares trade today

Intertek shares (GB0031638363) trade on the London Stock Exchange, with the latest available quote showing the stock close to the £61.08 offer value in British pounds, reflecting the recommended takeover terms and the FTSE 100 status of the group.

This article provides factual information on the Intertek shares and the announced takeover offer and does not contain investment advice or personal recommendations. Investors should base decisions on their own research and, where appropriate, seek independent professional guidance.