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Lab testing group Intertek to back £10.6bn takeover by Swedish firm EQT

13/5/2026
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The laboratory testing company Intertek has become the latest FTSE 100 business to agree to a takeover, backing a £10.6bn approach from a private equity firm owned by Sweden’s billionaire Wallenberg family.After rebuffing three previous approaches, Intertek’s board said it was “minded to recommend” the £60-a-share tilt from the Swedish buyout firm EQT to shareholders, if there was a firm offer.The deal is worth £10.6bn including debt, or £9.

4bn without.The previous bids were pegged at £58, £54 and £51 a share.Intertek shares jumped almost 7% to £56.65 on Wednesday.Other FTSE 100 companies to have accepted multibillion-pound offers this year include the insurer Beazley and the fund manager Schroders.

EQT was founded in 1994 as a spinout from Investor AB, the industrial holding company of the Wallenberg family.Its motto is “More than capital”, reflecting the Wallenbergs’ declared philosophy of responsible ownership.Their business empire has been estimated to be worth $40bn (£29.6bn), Bloomberg reported.Intertek, which tests and certifies products before they go to market, had kicked off a review of its business a month ago.

It said its board remained “highly confident in Intertek’s standalone strategy and the value-creation opportunity outlined in the strategic review”.It added that, after evaluating the offer and speaking to investors, it would be minded to recommend the deal, which will then be voted on by shareholders.Intertek, headquartered in London, dates back to the late 19th century when three pioneering businesses in the UK, Canada and the US combined.In 1885, it began testing and certifying grain cargoes before they were put to sea.Intertek listed on the London Stock Exchange in 2002 and joined the FTSE 100 index in 2009.

It has 45,000 employees and more than 1,000 labs worldwide.The company, led by the chief executive, André Lacroix, had come under mounting pressure from some investors to sell up, including Matt Peltz, the son of the billionaire activist investor Nelson Peltz.Matt Peltz had called on Intertek to accept the latest offer.The fund Lost Coast Collective, which owns 1.2% of Intertek and is managed by Peltz, told Intertek in a letter on Tuesday: “While the board and management may have confidence in a partial sale and an operational fix, the market clearly does not believe in the team’s ability to execute.

If it did, the stock would be much higher.“It is time to recognise the merits of EQT’s proposal and engage in good faith to complete a transaction.”Investors have clashed over the takeover, with Palliser Capital, Harris Associates and PrimeStone Capital urging the Intertek board to engage with EQT, while others had asked the board to hold firm.Marathon Asset Management has said “fair value is over £60 a share”.The final proposal from EQT is subject to preconditions, including completion of due diligence, Intertek said, adding that it had paused work on the strategic review.

Intertek had started to evaluate the potential separation, through a sale or demerger, of its energy and infrastructure arm.The division, which provides services to windfarms and others, and generates £1.6bn in annual revenues, would separate from its more consumer-facing product-testing business, which evaluates goods ranging from toys to food and footwear, and brings in a £1.9bn revenue.Dan Coatsworth, the head of markets at the investment platform AJ Bell, said: “One by one companies are being picked off the UK stock market, with Gamma Communications also looking like it could join the queue soon.

”The FTSE-250-listed telecommunication services company said on Wednesday that the US private equity firm Providence Equity Partners was among its suitors, with discussions at a preliminary stage.Investor AB was founded by the Wallenbergs in 1916 but the family’s business interests date back to 1856 when André Oscar Wallenberg created Stockholms Enskilda Bank, known as SEB today.Marcus Wallenberg wrote to his brother Jacob in 1946 that “to move from the old to what is about to come is the only tradition worth keeping”, as he sought to convince him to switch from the family’s business interests in the railroad industry to the founding of the airline SAS.
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Royal Opera House calls for release of Georgian bass singer jailed over democracy protests

The Royal Opera House in London has urged Keir Starmer to intervene in the case of Paata Burchuladze, a world-renowned bass singer who has been imprisoned in Georgia since October on a charge of leading a coup against the country’s authoritarian leader.The 71-year-old has performed at the Royal Opera House and the Metropolitan Opera House in New York and collaborated with the likes of Luciano Pavarotti, Plácido Domingo and José Carreras. He was arrested after joining a protest outside the presidential palace in the Georgian capital, Tbilisi. Last week he was given a seven-year jail sentence which Burchuladze suggested to the court was equivalent to a life sentence given his age.Burchuladze became a rallying figure at nightly demonstrations against the government’s perceived pivot away from the west last autumn

11/5/2026
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‘Using his Terminator voice, Arnie said: “Your song. Give it to me. Now”’: Bad to the Bone’s creation – and aftermath

Before Bad to the Bone, we just played obscure blues songs from the archives. But when we toured with the Rolling Stones, I noticed the reaction to their Start Me Up. I said: “Man, we’d better hurry up and write an original song with a catchy intro or, five years from now, people will go, ‘Oh yeah, George Thorogood – wasn’t he good at playing Chuck Berry or something?’”Bad to the Bone is a male fantasy. Let’s face it: every guy wants to be bad. We were raised on Hollywood movies and all those tough guys, like Bernardo from West Side Story, or Howlin’ Wolf – we opened for him in 1974 and he had a ferocious reputation

11/5/2026
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What is a ‘Scientology speedrun’ and why is social media suddenly obsessed with it?

Ima, if someone said “Scientology speedrun” to me I would think about Tom Cruise in tight shorts. But that is not what is happening, is it?Not quite, Cait. The Scientology speedrun appears to have spawned in March when content creator Swhileyy filmed himself rushing the Church of Scientology on Hollywood Boulevard in Los Angeles. That video gained 90m views before it was deleted.Since then, groups of mostly young men have documented themselves charging into the LA centre, pulling in millions of views on TikTok

11/5/2026
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Joseph Fiennes on parenting, politics and banning children from social media: ‘Stand up, Keir, this is your kids’ generation’

He’s played English titans from William Shakespeare to Gareth Southgate, but what does the actor really think about the country today?The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.We are at a corner table in a breakfast place in Chelsea, Joseph Fiennes opposite me on the banquette with his jack russell, Noa. “Dog duty,” he says, apologetic

9/5/2026
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The Guide #242: Everyday Hollywood film comedies have faded but can they make a comeback?

There was a striking moment during this week’s episode of The Rewatchables, the wildly popular film-recap podcast that I reach for when I’ve had my fill of history/football/glum current affairs pods. The episode was revisiting 90s comedy There’s Something About Mary, a film that in some ways holds up hilariously, and in others has aged about as well as a bottle of semi-skimmed on a summer’s day in Death Valley. As part of the episode, the podcast’s panel were going through their favourite comedy films by decade and were spoilt for choice – until, that is, they reached the 2020s, when they seemed to collectively draw a blank. “The Drama’s pretty funny …” one offered tentatively. Finally, host Bill Simmons cut through the umming, ahhing and awkward silence to get to the heart of the matter: “Do we have comedies any more? What happened to comedies?”Yes, what did happen to comedies? Or rather, what happened to the “everyday” American comedies like There’s Something About Mary that once set up a permanent frat house residence in cinemas? You know the ones I mean: those that took a familiar real-world situation – teens trying to lose their virginity, a man clashing with his girlfriend’s dad, a maid of honour struggling to arrange a hen do, stunted adolescents refusing to fly the nest – and stretched them to absurd and lurid extremes

9/5/2026
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Ah, ah, ah, ah - I saved my dad’s life with a little help from The Office and the Bee Gees

When my father collapsed suddenly, an episode of the US comedy in which Steve Carell does CPR to the tune of Stayin’ Alive sprung miraculously to mindIt was a boiling hot day last summer, four days after my dad’s 73rd birthday. Mum was plating up dinner and Dad was on the sofa complaining about how stifling it was. I was meant to head to work, for my job as a personal trainer, but decided to take the evening off. It was just as well: as I turned back to Mum, Dad collapsed backwards and suffered a massive cardiac arrest.Mum was hysterical

9/5/2026
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Court rules Coles misled shoppers with its ‘Down Down’ discount campaign

14/5/2026
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Housing market in England and Wales weakening due to Iran war, say estate agents

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Datacentres using 6% of electricity supply in UK and US, research says

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Nvidia’s Jensen Huang joins other US bosses on Trump trip to China

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Ivan Cleary begins long goodbye with a legacy built to last long after he leaves Panthers | Nick Tedeschi

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Sarah Taylor named England men’s fielding coach while Gay, Rew and Baker are called up

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