UL - Why Pest Control Giant Rentokil's Shares Are Shooting Higher Today | Benzinga
Pest control company Rentokil Initial Plc (NYSE:RTO) shares are trading higher after activist investor Nelson Peltz’s Trian Fund Management LP has reportedly increased its stake, making it one of the top ten shareholders of the U.K.-based company.
This move has notably revived Rentokil’s shares, which had previously suffered due to a post-COVID market slump.
As of mid-morning trading in London, the company’s shares were up by about 12%, valuing Rentokil at approximately £11.8 billion ($15 billion), reported Bloomberg.
This boost comes after a challenging year where Rentokil’s stock value declined significantly, affected by reduced demand ...