ONE day, there won’t be any decent London-listed companies left for private equity funds to buy.
The latest attempt at a UK leveraged buyout may be remarkable for its size, but it otherwise conforms to a familiar pattern that’s seeing the market gradually liquidated by cash bids from buyout firms and foreign bidders.
Intertek Group Plc on Wednesday said it was minded to accept a proposal from EQT AB valuing it at £10.6bil (US$14.3bil) including net debt.
Intertek is a classic UK target. The FTSE 100 company tests goods for compliance with regulatory standards – an attractive niche with durable demand.
It also has little to do with the struggling…