The activist investment firm of billionaire investor Nelson Peltz has become a major stakeholder in Rentokil Initial PLC, Bloomberg reported on Tuesday.

Trian Fund Management LP is now a top 10 shareholder in the Crawley, England-based pest control and hygiene firm, Bloomberg said, adding it isn’t clear the exact size of the stake.

In an emailed statement to Bloomberg, Trian confirmed it held a significant position in Rentokil and that it is currently a top 10 shareholder, adding that it reached out to the company to discuss ideas and initiatives to improve shareholder value.

https://www.bloomberg.com/news/articles/2024-06-11/peltz-s-trian-amasses-top-10-stake-in-terminix-owner-rentokil?embedded-checkout=true

Shares Rentokil were up 12% to 464.72 pence each on Wednesday morning in London.

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