UK’s Intertek Spurns EQT’s Latest Bid Worth £8.9 Billion

Intertek Group Plc rejected the latest takeover offer from EQT AB as the product testing business continues to resist the private equity firm’s advances.

EQT’s £58-per-share cash proposal, worth around £8.9 billion ($12 billion) excluding debt, significantly undervalues its future prospects and comes with execution risk, the British company said on Friday.