Intertek Group plc (LSE:ITRK) has confirmed that the deadline for EQT to either submit a formal takeover offer or withdraw its interest has been extended until 5:00 p.m. on 18 June 2026.
The extension relates to the conditional acquisition proposal received on 11 May 2026 from EQT X EUR SCSp and EQT X USD SCSp, acting through their manager, EQT Fund Management S.à.r.l., regarding the purchase of Intertek’s entire issued share capital.
According to Intertek, EQT requested additional time to complete its confirmatory due diligence review and final internal governance approvals. EQT has informed the board that the financial terms of its proposal remain unchanged, with shareholders potentially receiving £60.00 per share in cash.
Under the proposed transaction structure, Intertek would still be permitted to pay its previously announced final dividend of 107.7 pence per share for the 2025 financial year. The dividend was approved by shareholders at the company’s Annual General Meeting on 20 May 2026 and would not reduce the proposed cash consideration offered by EQT.
The company noted that both the due diligence process and negotiations surrounding the definitive transaction documentation have continued to progress over the past month.
Intertek added that the UK Panel on Takeovers and Mergers has approved the requested extension. By the revised deadline, EQT must either announce a firm intention to make an offer under Rule 2.7 of the Takeover Code or confirm that it does not intend to proceed, which would constitute a Rule 2.8 statement.
Any further extension to the deadline would require the agreement of both Intertek and the Takeover Panel in accordance with Rule 2.6(c) of the Code.
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