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
8,520.54
17:04 20/01/25
n/a
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FTSE 350
4,673.46
16:54 20/01/25
n/a
n/a
FTSE All-Share
4,625.74
17:09 20/01/25
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Rentokil Initial
377.80p
17:00 20/01/25
-2.20%
-8.50p
Support Services
11,054.66
16:54 20/01/25
0.84%
92.15
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.