Intertek Rejects £8.3 Billion Unsolicited Takeover Bid From EQT

Intertek Group Plc, a UK-based product testing company, rejected an unsolicited £8.3 billion ($11.2 billion) takeover bid from private equity firm EQT AB.

The offer was for £54 per share. Intertek’s board unanimously rejected the proposal because it undervalued the firm, the company said in a statement.