(Bloomberg) -- Activist investor Nelson Peltz’s Trian Fund Management LP has amassed a significant stake in UK-based pest-control company Rentokil Initial...
-- Activist investor Nelson Peltz ’s Trian Fund Management LP has amassed a significant stake in UK-based pest-control company Rentokil Initial Plc, people with knowledge of the matter said.The investment firm is now among the top 10 shareholders in Rentokil, which owns Terminix in the US, according to the people. Trian has reached out to Rentokil to discuss strategies, they said, asking not to be identified discussing private information.
UK-based companies are facing increased pressure from activist investors to consider dropping their London listings and re-list in the US for better liquidity, valuation arbitrage and access to a wider investor base. Rentokil has built its business through a series of acquisitions. These include Terminix, which it agreed to buy for $6.7 billion in 2021. -- The long-delayed $16 billion rail tunnel project connecting New York and New Jersey has received the final nod from the federal government that it will be receiving its $6.88 billion full funding agreement.
Nelson Peltz Trian Fund Management Terminix Rentokil Initial Activist Investor
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Nelson Peltz’s Trian Amasses Top 10 Stake in Terminix-Owner RentokilActivist investor Nelson Peltz’s Trian Fund Management LP has amassed a significant stake in UK-based pest-control company Rentokil Initial Plc, people with knowledge of the matter said.
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