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Intertek agrees to £10.7bn acquisition offer from EQT


By Dan McGrath

Intertek has agreed to a takeover offer from the Swedish private equity firm, EQT, for an enterprise value of £10.7bn.

The offer for the FTSE 100 product testing and certification company comprises £60 in cash per Intertek share and £1.07 as a final dividend payment


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Tesco growth slows following ‘exceptionally strong’ prior year

Tesco has recorded 1% year-on-year sales growth in the 13 weeks to 30 May, totalling £16.8bn

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Whitbread reports stronger Q1 as new strategy gathers pace

Premier Inn owner Whitbread delivered a strong start to its financial year, reporting 2% growth in group sales to £727m as trading improved across both its UK and German hotel operations, a key strategic focus for the company

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Bank of England base rate held at 3.75%

The Bank of England (BoE) has announced that interest rates will be held at 3.75%, the lowest bank base rate (BBR) since February 2023

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FCA closes Drax investigation without action

Energy group Drax has been cleared by the Financial Conduct Authority (FCA) after the regulator closed its investigation into the company’s historical disclosures on biomass sourcing without taking further action

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CMA clears ABF-Hovis merger

The Competition and Markets Authority (CMA) has approved Associated British Foods’ (ABF) planned acquisition of Hovis following an in-depth phase two investigation.

The regulator said the deal does not raise competition concerns because ABF’s bakery business would likely leave the market if the transaction did not proceed.

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PZ Cussons shares soar as it increases guidance

PZ Cussons has seen its share price jump by over 12% after it upgraded its operating profit guidance for the 2026 financial year

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Jaguar Land Rover eyes US luxury market and moves to 'greater propulsion flexibility'

Jaguar Land Rover (JLR) has unveiled plans to accelerate growth by expanding propulsion choices across its vehicle range and increasing its focus on North America, as the luxury carmaker targets double-digit revenue growth despite a more cautious outlook for profitability

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AO World reaches record profit in full-year

AO World has recorded a 16.1% increase in its profit before tax, totalling £50.5m in the year to 31 March, which is a record for the firm

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Thames Water nears nationalisation as Govt opposes ‘weak’ rescue deal

Thames Water’s proposed £10bn rescue deal has been described as "weak" by the Government, as the troubled utilities firm moves closer to being placed in temporary public ownership

Hays sells six European businesses, more could follow

Global specialist recruitment and workforce‑solutions group Hays has continued its strategic restructuring programme with the sale of its operations in six European countries to private equity investor Meraki Capital, while also "exploring options" related to a further half a dozen markets.
Sigma walks away from Boots acquisition talks

Sigma Healthcare has withdrawn from discussions to acquire Boots after concluding the potential transaction did not align with its strategic priorities or capital allocation objectives.

In a statement today, Sigma said that following an initial review it had determined that an acquisition of the UK pharmacy and retail chain “would not currently meet its strategic and capital investment objectives”
Debenhams narrows losses despite sharp revenue decline

Debenhams Group reported a 24.7% fall in full-year revenue to £917m, but profitability is improving as the company pivots to a higher-margin marketplace model


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