Rentokil rallies as Trian buys £31m worth of shares
Rentokil Initial rallied on Friday after activist investor Nelson Peltz’s Trian Fund Management bought 7.5m shares in the pest control company for £31m.
FTSE 100
8,300.33
17:04 13/12/24
n/a
n/a
FTSE 350
4,579.24
17:15 13/12/24
n/a
n/a
FTSE All-Share
4,535.41
16:54 13/12/24
n/a
n/a
Rentokil Initial
412.90p
16:34 13/12/24
3.51%
14.00p
Support Services
10,893.68
17:09 13/12/24
-0.43%
-46.97
The shares were purchased at 413.4p each on 11 December.
At 1155 GMT, Rentokil shares were up 3.7% at 414p, having jumped to as high as 415.30p earlier.
Trian took a 2.26% stake in Rentokil in June and in September, the company announced the appointment of a representative of Trian to its board as a non-executive director, sending the shares surging.