PRESS DIGEST-Financial Times - May 13

ReutersMay 13, 2026 2:58 AM

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May 13 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Scottish Mortgage defends $1.25 trillion SpaceX valuation ahead of IPO

- Hayek family defeats activist investor’s latest push to join Swatch board

- Delivery Hero chief to step down amid activist pressure

- Investment group EQT submits ‘final’ 10.6 billion pound offer for Intertek

Overview

- Scottish Mortgage Investment Trust SMT.L has defended its $1.25 trillion valuation of SpaceX, even though it is far lower than the $1.75 trillion reportedly sought by Elon Musk’s company in what is expected to be the biggest initial public offering in history.

- Swatch UHR.S shareholders on Tuesday rejected a bid by activist investor Steven Wood for an independent director's seat, the Swiss watchmaker said, opposing the latest challenge to the Hayek founding family's control over the group.

- Delivery Hero DHER.DE said on Tuesday its CEO Niklas Oestberg will step down, following campaigns by several large shareholders for a strategic review at the German food delivery group.

- Buyout firm EQT has submitted what it said would be its “final” offer for Intertek, as the FTSE 100 testing company comes under mounting pressure from shareholders to accept the improved 10.6 billion pound ($14.35 billion) deal.

($1 = 0.7387 pounds)

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