Investing.com – Trian Fund Management LP, directed by activist investor Nelson Peltz, has acquired a substantial stake in UK-based pest-control company Rentokil Initial (NYSE:), sources familiar with the matter told Bloomberg on Tuesday.
The investment firm now ranks among the top ten shareholders in Rentokil, the owner of Terminix in the US. Trian has reportedly reached out to Rentokil to discuss strategies, although the specifics of these conversations remain confidential.
The exact size of Trian’s stake and its plans for Rentokil have not been disclosed. Representatives from Trian declined to comment, while Rentokil has not yet provided a response.
Over the past 12 months, Rentokil’s shares have lost over a third of their value in London, resulting in a market capitalization of approximately £10.5 billion ($13.3 billion). The company also has depositary receipts listed in New…
