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DGA Group handles takeover target Intertek as the London-based quality assurance testing company launches a strategic review of its operations.
It will explore separating its energy and infrastructure business via a sale, or demerger.
That move comes as Intertek received an unsolicited offer from Sweden’s EQT Fund Management.
Intertek said on April 16 that its board carefully reviewed EQT’s “unsolicited, indicative and conditional proposal” and “unanimously and unequivocally” rejected it.
EQT upped its offer by five percent on April 22, valuing Intertek at around $11.B. Under UK takeover rules, EQT faces a May 14 deadline to make a firm offer for Intertek or end the pursuit.
Meanwhile, the Financial Times reports that Lost Coast Collective has taken a one percent stake in Intertek. Matt Peltz, son of activist investor Nelson Peltz, heads LCC.
DGA’s Jonathon Brill and James Styles handle Intertek’s strategic review.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
