Intertek Group (LSE:ITRK) said it received an unsolicited, indicative and conditional revised proposal from EQT X EUR SCSp and EQT X USD SCSp on 21 April offering £54.00 per ordinary share in cash, after the Board previously rejected EQT’s earlier £51.50 per share approach.
The Board is reviewing the revised proposal with its advisers and will make a further announcement in due course. Goldman Sachs International and J.P. Morgan Cazenove are acting as financial advisers to Intertek.
"There can be no certainty that an offer will be made nor as to the terms on which any offer might be made. Accordingly, Intertek shareholders are advised to take no action at this time," Intertek added.
Under Rule 2.6(a) of the Code, EQT must by not later than 5.00 p.m. on 14 May either announce a firm intention to make an offer under Rule 2.7 or state that it does not intend to make an offer; that deadline can only be extended with the Panel’s consent.
