Trian Fund Management Reportedly Amasses Top-10 Stake in Rentokil; Shares Rise

MT Newswires Live06-12

Trian Fund Management has amassed a top-10 shareholder stake in Rentokil Initial (RTO) and has reached out to the company to discuss ways to increase shareholder value, news outlets reported Wednesday, citing a statement from the activist investor.

Shares of the UK-based pest control company, which owns Terminix in the US, were up more than 12% in Wednesday's premarket session.

Trian, led by investor Nelson Peltz, two years ago invested in Unilever (UL) and convinced the company to appoint him to the board, Bloomberg reported.

Trian and Rentokil did not immediately reply to MT Newswires' request for comment.

Price: 30.44, Change: +3.52, Percent Change: +13.08

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