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EQT AB (NYSE:EQT) has submitted an improved third takeover proposal for Intertek Group plc (LSE:ITRK), increasing its bid to £58 per share and valuing the business at approximately £8.93 billion ($12.08 billion).

Market Reacts to Improved Bid

Intertek shares rose nearly 7% in London trading following the announcement. The revised offer represents a 54% premium to the company’s closing price of 3,770 pence on April 9, the day before EQT’s initial approach became public.

The new proposal surpasses EQT’s earlier £54-per-share bid, which was rejected last month. EQT stated that its latest offer delivers “certain and accelerated cash value” for shareholders and presents a more attractive outcome than Intertek continuing independently.

Deadline Looms Under Takeover Rules

Under UK takeover regulations, EQT must meet a “put up or shut up” deadline of 14 May, requiring it to either confirm a firm intention to proceed with an offer or withdraw its interest.

Strategic Review Adds Context

The approach comes as Intertek continues a strategic review announced last month, which includes evaluating a potential separation of its Energy & Infrastructure division. Options under consideration include a sale or demerger, which could result in two independent global businesses.

Auction Technology Group PLC (LSE:ATG) saw its shares rise around 7% on Tuesday after announcing the appointment of Duncan Painter as Chief Executive Officer, effective immediately.

Leadership Transition Underway

The company confirmed that Painter has taken up the role without delay, marking a swift leadership transition.

John-Paul Savant, the outgoing CEO, will remain with the business until 20 May to support the handover process and ensure continuity.

Wizz Air Holdings PLC (LSE:WIZZ) reported carrying 6.63 million passengers in April 2026, representing a 22% increase compared with the same period last year.

Load Factor Remains Solid

The airline achieved a load factor of 88.9% during the month, reflecting continued strong demand across its network. The figures were released alongside the company’s April 2026 traffic and CO2 emissions data.

Financial Position Reaffirmed

In its update, Wizz Air reiterated confidence in its financial stability, signalling resilience as it continues to expand capacity and passenger volumes.

Continuing the saying, “Fool me once, shame on you; fool me twice, shame on me,” fool me three times and I should be an investor.

As expected, the two-month deadline limiting the U.S. president’s ability to take military action without congressional approval has expired without the conflict coming any closer to an end. In a letter to congressional leaders, Trump argued that he is not subject to the War Powers Act, claiming that last month’s ceasefire with Iran “stopped the clock” on any such obligation. To be fair, historically, other presidents have also found ways to extend military interventions beyond that limit.

Either way, the markets, judging by the rise in the S&P 500 and the Nasdaq, do not seem particularly concerned, betting on another “TACO” or a verbal intervention from the U.S. president.

And they didn’t have to wait long. On Sunday, Trump said that a U.S. operation to ensure the safe passage of ships through the Strait of Hormuz would begin on Monday, adding that negotiations with Iran were progressing positively.

The only issue is that, at the same time, Washington rejected Iran’s proposal to end the conflict in three phases, and, on top of that, reports emerged on Monday that Iran had attacked a U.S. vessel attempting to pass through the Strait of Hormuz after ignoring warnings.

Although the U.S. has denied those claims, the two sides are still a long way from any real agreement, despite the optimistic rhetoric on Truth Social.

For the global economy, this kind of uncertainty is far from benign. While central banks are not rushing to raise interest rates in response to inflation risks, they are preparing for that possibility. Even within the Federal Reserve, as Powell noted, a growing number of members are uncomfortable with maintaining a “more accommodative” stance.

Gulf Marine Services PLC (LSE:GMS) has secured two significant contracts that signal its entry into both African and Latin American markets, advancing its strategy to broaden its global footprint.

The first contract involves deploying a recently acquired vessel on a firm 170-day charter, with additional optional periods, at favourable day rates. This agreement highlights the value of recent fleet investment and increases the company’s contracted backlog to approximately USD 666 million.

New Services Line Adds Asset-Light Growth

The second contract introduces Gulf Marine Services to third-party vessel management. Under this arrangement, the company will oversee the technical and operational management of an externally owned vessel in Africa for a one-year period.

This move represents an asset-light expansion into new services, diversifying revenue streams while complementing its core vessel chartering business. Combined with strong charter pricing, it supports management’s decision to maintain its 2026 adjusted EBITDA guidance in the range of USD 105 million to USD 115 million.

Outlook Reflects Strength With Some Headwinds

The company’s outlook is supported by improving financial fundamentals, including ongoing deleveraging, consistent profitability, and generally positive free cash flow generation.

However, these strengths are partly offset by a decline in net income during 2025 and a notable drop in free cash flow over the same period. Technical indicators remain mixed, while valuation appears moderate, limiting additional upside in the near term.

More About Gulf Marine Services PLC

Gulf Marine Services PLC is a leading provider of self-propelled, self-elevating support vessels for the offshore energy sector. Founded in Abu Dhabi in 1977 and listed on the London Stock Exchange, the company operates a modern fleet of 15 vessels.

With operational bases in the UAE, Saudi Arabia, and Qatar, it serves global clients across offshore oil and gas maintenance, well intervention, and offshore wind installation and support activities.

Helium One Global Limited (LSE:HE1) has finalised the award of its Mining Licence for the southern Rukwa Helium Project in Tanzania, following a formal signing ceremony with the government and relevant ministries.

The licence is held through Songwe Helium Ltd, a joint venture in which Helium One owns an 83% stake, covering approximately 480 square kilometres and representing the country’s first and largest helium mining licence.

Transition to Development Phase

The award marks a major step forward for the project, shifting it from exploration into the development stage. Backed by government agreements and a defined joint venture structure, the southern Rukwa asset is now positioned for further advancement toward production.

At the same time, Helium One has appointed PVE Consulting to manage a farm-out process aimed at securing an industry partner and external funding. This move is intended to support development while reducing financial burden and accelerating progress on what the company views as a strategically important helium resource.

Strategic Positioning in Global Helium Market

With demand for helium increasing globally, the company believes its Tanzanian asset could play a meaningful role in future supply. The combination of a long-term mining licence and plans to bring in partners is expected to strengthen Helium One’s position within the helium value chain and provide clearer direction for stakeholders.

Outlook Constrained by Financial Pressures

Despite operational progress, Helium One’s outlook remains limited by its financial profile, including a lack of revenue, ongoing losses, and continued cash burn. These factors point to potential funding requirements as the project advances.

Technical indicators offer some support, showing modest longer-term strength, but valuation remains constrained due to negative earnings and the absence of dividend support.

More About Helium One Global Limited

Helium One Global Limited is a helium exploration and development company focused primarily on Tanzania, where it holds leading acreage positions.

The company also has a 50% working interest in the Galactica-Pegasus helium development project in Colorado, United States, which is progressing toward potential near-term production. Its strategy centres on becoming a key supplier in a tightening global helium market, supported by its advancing southern Rukwa project and complementary international assets.

Invinity Energy Systems plc (LSE:IES) has reported significant progress in reducing costs for its Endurium battery platform, now targeting at least a 66% reduction in cost per kWh compared with its earlier VS3 systems by late 2026—around 18 months ahead of prior expectations.

The company has initiated more than 50 workstreams focused on engineering improvements, component simplification, and manufacturing efficiencies, aimed at boosting competitiveness and widening its market reach.

Operational Growth and Landmark Projects

Invinity has manufactured or delivered over 40 MWh of systems so far this year, while its installed fleet has discharged more than 8.7 GWh, demonstrating increasing real-world performance.

A key milestone is the 20.7 MWh Copwood project in East Sussex, which is nearing full delivery. Once operational, it is expected to become Europe’s largest vanadium flow battery installation and begin generating grid revenues in the second half of 2026.

Scaling Production and Global Opportunities

The company is advancing plans to expand production capacity globally, including establishing a U.S. manufacturing facility later this year to complement its California service operations.

Management highlighted a growing commercial pipeline spanning commercial, industrial, and data centre customers, along with participation in long-duration energy storage programmes across the UK, Canada, India, and other regions.

Delays Impact Near-Term Revenue Outlook

Short-term revenue expectations have been affected by delays to two solar-plus-storage projects in Hungary, which are now unlikely to contribute in 2026. However, contracts remain in place, and the batteries could be redeployed elsewhere.

Looking ahead, Invinity forecasts potential revenue and grant income of around £14m in 2026, rising to £49m in 2027 and £234m in 2028. These projections remain subject to timing and execution risks, particularly for projects still under negotiation.

U.S. Projects Shift Timeline

Projects linked to the U.S. Department of Energy have also experienced delays. The 12 MWh PNNL project is now expected in 2026, while three additional DOE-supported projects are moving toward final agreements with delivery anticipated from 2027.

The company also confirmed that its 2025 audit is progressing well and expects to publish its annual report by 30 June 2026. Management continues to position cost reductions and pipeline execution as central to achieving leadership in long-duration energy storage.

Outlook Hinges on Execution

Invinity’s outlook remains challenged by ongoing losses and negative cash flow, which weigh on its financial profile.

While technical indicators and valuation metrics are relatively weak, recent strategic progress and expanding commercial opportunities provide some positive momentum. Execution of its growth plans and improvement in financial performance will be critical to its longer-term prospects.

More About Invinity Energy Systems plc

Invinity Energy Systems plc is a UK-listed manufacturer of utility-scale energy storage systems, specialising in vanadium flow batteries designed for long-duration applications.

Its Endurium product range targets commercial, industrial, and grid-scale customers across Europe, North America, and Asia, focusing on delivering safe, durable storage solutions to support renewable energy integration and grid stability.