London, July 4, 2026, 21:02 BST
- Intertek finished Friday at 5,820p, up 0.09%. That puts shares 180p under EQT’s £60 per share cash offer.
- The stock was up roughly 0.2% last week, while the FTSE 100 gained 1.63%. The move has turned the shares into a deal-spread trade.
- BlackRock and Citadel reported July 3 takeover filings with combined long or economic interests of around £1.22 billion based on Friday’s close.
London markets are closed Saturday. The London Stock Exchange is also listed as shut on July 4, regular trading runs 0800 to 1630 BST on weekdays. Intertek Group plc LON:ITRK goes into next week still in play on EQT AB’s STO:EQT recommended offer, finishing Friday at 5,820p, volume was 338,351 shares.
The stock closed 180p below the £60 per share cash offer from EQT’s Isotope Bidco. With the final dividend out, buyers here see a 3.1% gross spread. The headline deal price was £61.077 a share, but that factors in a 107.7p final dividend that went to holders on May 29 and is due June 24.
| Measure | Level | Investor read-through |
|---|---|---|
| Friday Intertek close | 5,820p | Closed 180p under the cash leg |
| EQT cash leg | 6,000p | Gross spread of 3.1% to Friday’s close |
| Announced total value | 6,107.7p | That figure bakes in a 107.7p final dividend |
| Intertek week | +0.17% | Stock added 10p over the week |
| FTSE 100 (INDEXFTSE:UKX) week | +1.63% | Index came in about 1.5pts ahead of Intertek |
Intertek added 10p this week, moving from 5,810p on June 26 to 5,820p as of July 3. The FTSE 100 put on 171.01 points in the same stretch to finish at 10,679.03. What counts now is the gap, since Intertek’s potential is less linked to the index and more about how and when the EQT bid closes, and the risks in that process.
EQT said the £60 cash offer is final unless a rival offer shows up or the UK Takeover Panel lets it raise. That move caps upside on the bid, so the spread now covers scheme risk, timing, and regulatory holdups.
The next big step is the vote count. The deal has to go through a court-sanctioned scheme that needs a majority in number and 75% in value of scheme shareholders to vote in favor, along with a special resolution at the general meeting. Court and general meetings are set for Aug. 6. If shareholders approve, the scheme could take effect in the fourth quarter of 2026 or the first quarter of 2027.
New Rule 8 filings put figures on the event risk spots.
| July 3 disclosure | Position/dealing date | Reported exposure | Latest dealing shown |
|---|---|---|---|
| BlackRock Inc | July 2 | 16.12 million long, 10.46%; about £938 million at Friday’s close | Bought 1,682 shares at £58.15 and boosted CFD long by 158,400 at £58.05. |
| Citadel Group | July 2 | 4.82 million long, 3.13%; about £281 million at Friday’s close | Bought 2,332 shares at £58.10, added 26,045 long CFDs at £58.05. |
| Morgan Stanley Europe SE | July 2 | Exempt principal trader tied to EQT | Bought and sold 6,334 shares between £58.05 and £58.15. |
The numbers aren’t voting control. BlackRock and Citadel’s filings show cash-settled derivatives. That’s still a big part of the stock—combined long or economic stakes total around 20.94 million shares or share equivalents. That works out to about 13.6% of Intertek’s equity as shown in the filings, or roughly £1.22 billion at Friday’s close.
Intertek’s board backed the offer. EQT partner Matthias Wittkowski said EQT is “committed to investing in Intertek.” Intertek CEO André Lacroix called the deal a way to give shareholders “cash certainty today.” Investegate
Intertek turned down three earlier EQT bids at £51.50, £54 and £58 per share, Reuters said on June 18. Shareholders then pushed the company to start talks after it considered a breakup. Morningstar’s Ben Slupecki said the deal was logical, arguing the market had priced Intertek’s assets too low before the EQT offers.
Next week, investors are waiting on the scheme document, which EQT said would be published within 28 days of its June 18 offer, unless a delay is agreed with the Takeover Panel. Intertek’s next scheduled update is its half-year results out July 31.
