83.4 billion RMB: A top-tier PE firm acquires a leading testing and certification company

Formerly 'China Private Equity Investment' Photo: Bob The third-largest private equity acquisition in UK history. Recently, the global private equity market witnessed another industry merger-and-acquisition deal valued at over 100 billion RMB. EQT, a top-tier Swedish private equity group, announced it has formally reached a definitive acquisition agreement with Intertek Group—the UK’s leading testing, inspection, and certification (TIC) company—under which EQT will acquire all of Intertek’s shares via an all-cash offer of £9.3 billion (approximately RMB 83.4 billion), taking the company private. Upon completion, Intertek will delist from the London Stock Exchange and become a wholly owned private asset under EQT. A masterful negotiation battle Four offers, three price hikes According to reports, EQT launched its acquisition initiative in April 2026 and subsequently raised its offer three times before reaching the final agreed-upon deal after four rounds of bidding. In early April this year, EQT first signaled its acquisition intent with an initial offer of £51.50 per share in cash—but the Intertek board unanimously rejected it as undervaluing the company. EQT quickly revised its bid upward to £54 per share, yet still failed to win Intertek’s approval. In May, EQT raised its offer again—to £58 per share—valuing the company at £8.93 billion; however, consensus remained elusive. It was not until June that EQT raised its offer for the third time—to £60 per share in cash, plus an additional annual dividend of £1.10 per share—that the deal was finally sealed. Overall, the transaction values Intertek’s equity at £9.3 billion; including existing debt, the total deal size amounts to approximately £10.9 billion (nearly RMB 130 billion). The final offer represents a 40% premium over Intertek’s closing share price on April 15, 2026—the trading day immediately prior to EQT’s first public announcement of its acquisition intent—fully safeguarding existing shareholders’ returns and thus securing unanimous board approval. All spin-off plans officially terminated, Third-largest PE acquisition in UK history Public records show Intertek Group was founded in 1885 and is headquartered in London, UK. It is one of the world’s oldest and most globally comprehensive third-party testing, inspection, and certification service providers—and also a constituent of the UK’s FTSE 100 Index—commanding exceptional industry credibility and broad market recognition.

Qiagen’s $10.7 billion 'sale' rumors resurface; CEO departure clears path—will Agilent or Danaher step in?

Qiagen primarily provides genetic testing technologies and related services, serving over 500,000 customers—including pharmaceutical R&D teams and clinical laboratories. According to insiders, Qiagen has been targeted for acquisition several times in recent years, but none of those discussions culminated in a finalized transaction. The current negotiations remain at an early stage, and whether a sale will ultimately materialize remains uncertain. Last November, Qiagen announced that its Chief Executive Officer, Thierry Bernard, would step down immediately upon appointment of his successor. Some insiders noted that Bernard’s planned departure removed one of the key perceived obstacles to completing a potential transaction. As of press time, Qiagen’s spokesperson declined to comment. Looking back at past acquisition rumors surrounding Qiagen, they have been plentiful and varied. In October 2019—shortly after former CEO Peer Schatz stepped down—acquisition interest in Qiagen emerged. In 2020, Thermo Fisher Scientific reportedly made an acquisition offer valued at approximately $12 billion; however, due to opposition from activist investors, the offer failed to gain traction, and the company ultimately abandoned the plan. At that time, EvaluateMedTech listed Thermo Fisher Scientific, Siemens Healthineers, Danaher, and Agilent as potential acquirers of Qiagen. In February 2021, according to insiders, U.S.-based point-of-care diagnostics company Quidel Corp was exploring a potential acquisition offer for molecular diagnostics giant Qiagen. Neither party commented publicly, and Wall Street remained skeptical about the deal—after which the matter quietly faded away. Additionally, insiders revealed that Qiagen had also explored a possible merger with French competitor bioMérieux that same year; if realized, such a merger would have created a combined European healthcare diagnostics powerhouse. In October 2022, The Wall Street Journal, citing unnamed sources, reported that U.S.-based Bio-Rad Laboratories was engaged in merger talks with Qiagen, with the deal potentially valued at over $10 billion—but no further progress has since been reported.

EQT in Advanced Talks to Acquire Molecular Testing Firm Qiagen

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EQT is in advanced talks to acquire Qiagen with a binding offer exceeding $50 per share. Private equity firms including KKR have also bid, while Qiagen's board evaluates the strategic options amidst a €8.57 billion market cap.

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