Rentokil surges as Nelson Peltz's Trian said to have taken 'significant' stake

(Sharecast News) - Rentokil surged to the top of the FTSE 100 on Wednesday following reports that activist investor Nelson Peltz's Trian Fund Management has taken a "significant" stake in the pest control company. According to sources cited by Bloomberg, the investment firm is now among the top 10 shareholders in Rentokil, which owns Terminix in the US.

Meanwhile, CNBC said a spokesperson for Trian said it was looking to engage with Rentokil's leadership on "ideas and initiatives to improve shareholder value".

At 0835 BST, the shares were up 13.3% at 470.60p.