EQT AB has made a fourth and final bid to acquire Intertek Group Plc as the British product-testing company comes under increasing pressure from its investors to pursue a deal. The Swedish private equity firm on Tuesday offered £60-a-share in cash for Intertek, which values the London-listed company at around £9.2 billion ($12.5 billion). Under EQT’s offer, shareholders would also receive a divide...
EQT AB has made a fourth and final bid to acquire Intertek Group Plc as the British product-testing company comes under increasing pressure from its investors to pursue a deal. The Swedish private equity firm on Tuesday offered £60-a-share in cash for Intertek, which values the London-listed company at around £9.2 billion ($12.5 billion). Under EQT’s offer, shareholders would also receive a dividend of up to £1.077, as announced by Intertek in March. Shares in Intertek were trading 5.6% higher at £52.60 at 8:47 a.m. in London, giving the company a market value of roughly £8 billion. The latest bid comes less than a week after Intertek rejected a proposal of £58-a-share that the company said significantly undervalued its future prospects and came with execution risk. Top Intertek investors have since been pushing the company to engage with its private equity suitor. Among them is activist investor Palliser Capital , which Bloomberg News reported on Monday has built a stake in Intertek. “We strongly urge the Intertek board to engage with EQT now to establish a constructive dialogue, allow any required due diligence to take place and secure a favorable transaction for shareholders,” Palliser said in a statement Tuesday. Palliser, which was founded by Elliott Investment Management veteran James Smith , has a less than 1% stake in Intertek, according to a person familiar with the matter, who asked not to be identified discussing confidential information. Other investors calling for talks with EQT include PrimeStone Capital , which holds 0.5% of Intertek, and Canada’s PineStone Asset Management , which owns roughly 4% of the stock. “We believe the board has a fiduciary responsibility to evaluate any credible proposal that could create value,” PineStone’s Chief Executive Officer Nadim Rizk said in an interview before EQT made its most recent offer. Amid the interest from EQT, Intertek has been forging ahead with a strategic review that it announced in April. The company sa...
Do you want to know the best way to invest in the next big thing? Looking at what the so-called "smart money" is doing is a great place to start. Quantum computing certainly deserves a spot on the short list of the top candidates to be the next big thing. It holds the potential to be one of the most transformative technologies ever, accelerating advances in artificial intelligence (AI) and revolut...
Do you want to know the best way to invest in the next big thing? Looking at what the so-called "smart money" is doing is a great place to start. Quantum computing certainly deserves a spot on the short list of the top candidates to be the next big thing. It holds the potential to be one of the most transformative technologies ever, accelerating advances in artificial intelligence (AI) and revolutionizing drug discovery, financial modeling, materials research, and more. The smart money appears to agree on the best way to invest in quantum computing. Seven billionaires are betting big on one quantum computing powerhouse -- and it's not IonQ (NYSE: IONQ) or D-Wave Quantum (NYSE: QBTS) . Continue reading
Par Petroleum, a wholly owned subsidiary of Par Pacific ( PARR ) priced a private placement of $500M aggregate principal amount of 7.375% senior unsecured notes due 2034. The notes mature on June 1, 2034, and will be issued at par. The offering is expected to close on May 14, 2026. Net proceeds together with cash on hand or borrowings under the ABL Credit Facility will be used to repay all of the ...
Par Petroleum, a wholly owned subsidiary of Par Pacific ( PARR ) priced a private placement of $500M aggregate principal amount of 7.375% senior unsecured notes due 2034. The notes mature on June 1, 2034, and will be issued at par. The offering is expected to close on May 14, 2026. Net proceeds together with cash on hand or borrowings under the ABL Credit Facility will be used to repay all of the aggregate principal balance under and terminate Par Petroleum’s term loan due 2030. The stock price traded marginally higher on Tuesday pre-market hours. More on Par Pacific Par Pacific: Riding The Wave Of The Next Refining Mega-Cycle (Rating Upgrade) Par Pacific Holdings, Inc. (PARR) Q1 2026 Earnings Call Transcript Par Pacific Holdings: Still The Winner I Saw Last Time Par Pacific schedules $500 million private placement Par Pacific expects Q2 Hawaii throughput of 77,000-81,000 bpd amid late-June turnaround
A raft of companies across sectors are pressing on with plans to list in Saudi Arabia, bolstered by gains in the benchmark since the regional war began. Firms including a bottling company ultimately controlled by the billionaire Olayan family and telecommunications provider Etihad Salam Telecom Co. are seeking additional banks to help arrange a potential listing, people familiar with the matter sa...
A raft of companies across sectors are pressing on with plans to list in Saudi Arabia, bolstered by gains in the benchmark since the regional war began. Firms including a bottling company ultimately controlled by the billionaire Olayan family and telecommunications provider Etihad Salam Telecom Co. are seeking additional banks to help arrange a potential listing, people familiar with the matter said, declining to be identified as the details are private. The deals could help Riyadh’s stock exchange rebound from its quietest start for listings in years. They’ll also widen a gap with hubs in neighboring United Arab Emirates, where some listings planned for the first half of the year risk being delayed or pulled . Olayan Financing Co. is working with Lazard on a potential IPO of Health Water Bottling Co. and recently sent requests for proposals to banks despite lingering uncertainty from the war, some of the people said. Telecommunications provider Etihad Salam Telecom Co. is also seeking firms for junior banking roles on its listing . Elsewhere, ArcelorMittal Tubular Products Jubail Co. has appointed JPMorgan Chase & Co . and HSBC Holdings Plc as advisers, while AlKhorayef Petroleum is preparing to file for regulatory approval soon after hiring banks earlier this year, some of the people said. Both firms count the Public Investment Fund as a shareholder. Technology services company Ejada Systems Ltd . is aiming to renew its regulatory approval to list, according to people familiar with the matter, while quick-delivery firm Ninja has also picked banks for a potential $1 billion IPO. Read More: Saudi IT Firm to Press Ahead with IPO Despite War Uncertainty Representatives for Lazard, JPMorgan, HSBC, Arcelor Mittal, Al Khorayef Petroleum and Etihad Salam declined to comment. Olayan Financing Co., the PIF, Ejada and ArcelorMittal Tubular Products Al-Jubail could not be reached for comment. The firms are being buoyed by relative strength in the local market. Firmer oil pric...
Kevin Warsh, President Trump's pick to head the Federal Reserve, is poised to take the baton from current Fed chair Jerome Powell on May 15, 2026. He will move into a position that holds tremendous influence on the U.S. economy and the stock market. With Warsh at the helm of the Fed, the market narrative could change. Some believe that we have already seen examples of the "Warsh trade," with a ral...
Kevin Warsh, President Trump's pick to head the Federal Reserve, is poised to take the baton from current Fed chair Jerome Powell on May 15, 2026. He will move into a position that holds tremendous influence on the U.S. economy and the stock market. With Warsh at the helm of the Fed, the market narrative could change. Some believe that we have already seen examples of the "Warsh trade," with a rally in bank stocks and the 30-year U.S. Treasury yield rising above 5%. Even bigger market moves could be triggered once Trump's nominee becomes Fed chair. Here's how investors should prepare. Image source: Getty Images. Continue reading
Editor's note: Seeking Alpha is proud to welcome KC Research as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » shih-wei/iStock via Getty Images Investment Thesis Amkor Technology ( AMKR ) has been a stronger-perf...
Editor's note: Seeking Alpha is proud to welcome KC Research as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » shih-wei/iStock via Getty Images Investment Thesis Amkor Technology ( AMKR ) has been a stronger-performing name in the outsourced semiconductor assembly and test (OSAT) space over the past year. Shares have recently crossed $79 (April 24th) after running from the mid-$40s as the Arizona advanced packaging story has gained interest. A broader macro tailwind, including cooling geopolitical tensions and index-level all-time highs, has helped lift the tape. However, the move in Amkor is not purely beta and instead reflects a genuine re-rating driven by named customer commitments (Apple & Nvidia), CHIPS Act funding, and a structural geographic advantage that can't be replicated. At recent highs of ~$79, the trailing multiple has expanded to roughly 16x EV/EBITDA, a premium to the OSAT peer group and approaching TSMC (~18x). On a backward-looking basis, the stock looks fully valued. However, the trailing multiple is applied to today's EBITDA of approximately $1.16 billion and does not reflect the 2028 earnings power Arizona is about to deliver. On 2028E EBITDA of $1.87-1.94 billion, the current EV implies only ~9.1x forward EV/EBITDA. This is below where ASE Technology trades based on trailing numbers today. The market re-rating on Amkor has been based on sentiment and has not yet re-rated on the actual earnings inflection. The two catalysts most likely to drive the next leg are clean margin execution through FY 2026 and a formal Nvidia contract conversion beyond the existing MOU language. We view Amkor as a buy . Amkor Chart (Seeking Alpha Database) Business Overview Amkor Technology is the second-largest OSAT provider in the world, just behind Taiwan-based ASE Technology Hold...
Asia Pacific is set to be the world’s largest business-travel market in 2026, according to a new forecast, with the surge seen driven by the region’s expanding manufacturing and trade activity. Spending on corporate trips from the region is expected to reach $701 billion this year — just over 40% of global expenditure, according to trade group, Global Business Travel Association Inc. That represen...
Asia Pacific is set to be the world’s largest business-travel market in 2026, according to a new forecast, with the surge seen driven by the region’s expanding manufacturing and trade activity. Spending on corporate trips from the region is expected to reach $701 billion this year — just over 40% of global expenditure, according to trade group, Global Business Travel Association Inc. That represents a 10.9% year-over-year increase, driven largely by Japan, Korea, and India. Europe is expected to be the second-largest, followed by North America, according to GBTA. “Manufacturing is the largest business-traveling” sector, said Suzanne Neufang , chief executive officer of GBTA. Trade — whether with new partners, old ones or reacquainted partners — “is one of the key drivers for confidence in our sector.” The data highlights a shifting global trade landscape, including efforts by countries such as China to diversify trading relationships amid rising costs and inflation. Despite this momentum, overall travel volumes have yet to recover to pre-Covid levels. China’s domestic business-travel market remains strong,while travel between China and the US also stays robust, driven by continued demand from American consumers for Chinese-manufactured goods, Neufang said. She added that China’s growing green-technology sector is expected to fuel further travel demand, as the country maintains a cost advantage over many competitors. Still, rising travel costs and evolving risk and safety considerations are weighing on sentiment. Geopolitical instability has become the most significant external factor shaping business travel decisions for 2026, with travelers showing reduced confidence and companies facing greater operational complexity, according to GBTA. In the Middle East, daily life and flight operations in hubs such as Dubai and Qatar have largely stabilized. Yet risk-averse corporate policies continue to limit employee travel, as rebuilding trust takes time, Neufang said. Insur...