Intertek, a laboratory testing company headquartered in London, has indicated support for a £10.6 billion takeover bid from EQT, a private equity firm owned by the Wallenberg family of Sweden. The board expressed it is 'minded to recommend' the £60-per-share offer to shareholders, a significant increase from previous bids of £58, £54, and £51 per share. Following the announcement, Intertek's shares surged nearly 7% to £56.65. The deal, which includes debt, is part of a trend of multibillion-pound offers within the FTSE 100, joining other companies like Beazley and Schroders. Intertek has been under pressure from investors, including Matt Peltz, to accept the offer, as some believe the company's current strategy may not yield the expected results. While the board remains confident in its standalone strategy, it has paused its strategic review to consider the offer from EQT, which is contingent on due diligence and other preconditions. Founded in 1994, EQT emphasizes responsible ownership and has an estimated business empire worth $40 billion (£29.6 billion). Intertek, established in the late 19th century, has over 45,000 employees and operates more than 1,000 labs worldwide.