Swedish private equity firm EQT sweetens Intertek bid to $12 billion 

In this article

Swedish private equity firm EQT AB

raised its bid to buy Britain’s Intertek

to about 8.93 billion pounds ($12 billion) on Tuesday after the product testing firm rebuffed its previous proposals on grounds it undervalued the company.

This is the third offer in three weeks EQT has made for Intertek after the British company turned down an initial 51.50 pound per-share proposal and also a sweetened 54 pound per-share bid. London-listed Intertek’s shares jumped 9.6% to 52.64 pounds on the news, but traded significantly lower than the new 58 pound-per-share proposal submitted by EQT.