Intertek Accepts Takeover Bid from EQT, Exiting London Stock Market

1-Minute Brief

Intertek's acquisition by EQT highlights ongoing concerns about major UK firms leaving the London Stock Exchange.

Key Facts

• Intertek has accepted a takeover offer from Swedish private equity firm EQT.
• The agreed bid values Intertek at £61.08 per share.
• The total value of the deal is reported as £9.5 billion by one source and £9.3 billion by another.
• The acquisition will result in Intertek leaving the London stock market.
• The agreement follows weeks of negotiations between Intertek and EQT.

What Happened

Intertek Group Plc, a London-listed company, has agreed to be acquired by EQT, a Swedish private equity firm, after weeks of talks. The deal will see Intertek delist from the London Stock Exchange.

Why It Matters

This transaction is part of a trend of UK companies leaving the London market, raising questions about the competitiveness and attractiveness of the exchange for major firms. The total deal value is reported as £9.5 billion by The Independent and £9.3 billion by Bloomberg Markets.

What's Next

Completion of the acquisition will require regulatory approval and shareholder consent. Observers will watch for further large-scale departures from the London Stock Exchange.