Morgan Stanley has filed a Form 8 (DD) disclosure under the UK Takeover Code, confirming a reduction in its holding of Intertek Group plc (ITRK) ordinary shares following a discretionary client withdrawal. The dealing, executed on 28 October 2026, was made on behalf of Calvert Research and Management, a client of Morgan Stanley, and relates to an ongoing offer situation involving EQT Fund Management S.à.r.l. The Panel Executive confirmed on an ex-parte basis that the transaction carries no Code consequences. Investors tracking the EQT takeover process for Intertek will note the updated beneficial ownership position now disclosed publicly.

Key Points

  • Intertek Group plc (ITRK) — disclosure filed by Morgan Stanley on behalf of Calvert Research and Management
  • 22,569 ordinary shares of 1p sold on 28 October 2026 at a price of 59.20 GBP per share
  • Remaining holding stands at 24,315.64 shares, representing 0.02% of Intertek's relevant securities
  • Investors should watch for further Rule 8 disclosures as the EQT Fund Management offer process continues

Morgan Stanley Acts as Discloser for Calvert Research and Management in Intertek Sale

The Form 8 (DD) filing names Morgan Stanley as the discloser, while identifying Calvert Research and Management as the owner and controller of the interests being disclosed. The announcement states the sale of 22,569 ordinary shares of 1p in Intertek Group plc took place on 28 October 2026, at a price of 59.20 GBP per share. The transaction arose from a discretionary client withdrawal rather than an active investment decision, a distinction the Panel Executive confirmed as carrying no consequences under the Takeover Code. Morgan Stanley's status in this process is as a person acting in concert with EQT Fund Management S.à.r.l., the named offeror.

Intertek Group Stake Falls to 24,315 Shares After Transfer of 6,996 Securities Since April 2026

Following the 28 October dealing, the combined holding of Intertek Group ordinary shares attributable to Calvert Research and Management stands at 24,315.64 shares, equating to 0.02% of the company's relevant securities. The announcement states the change since the last disclosure — dated 30 April 2026 — reflects a transfer out of 6,996.25 shares from a discretionary holding. Intertek Group is a leading global testing, inspection, and certification company, operating across numerous sectors and geographies. No cash-settled or stock-settled derivatives are held, and no supplemental forms covering open positions or securities borrowing have been filed alongside this disclosure.

EQT Fund Management Offer Context and Takeover Code Obligations for Intertek Shareholders

The disclosure is made in the context of an offer by EQT Fund Management S.à.r.l. for Intertek Group plc, triggering mandatory public dealing disclosures under Rules 8.1, 8.2, and 8.4 of the UK Takeover Code for all parties and persons acting in concert. The announcement confirms there are no indemnity arrangements, option agreements, or understandings relating to voting rights or future acquisitions of relevant securities. The contact listed for this disclosure is Claire Gordon, reachable via a Glasgow-based telephone number, consistent with Morgan Stanley's UK institutional operations. The Panel's Market Surveillance Unit oversees compliance with these disclosure obligations throughout the offer period.