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Former BT chief Philip Jansen in talks to buy Rentokil, Sunday Times reports

July 20, 2024 at 07:36 am

July 20 (Reuters) - Philip Jansen, former chief of BT Group, is working on a private equity-backed takeover bid for Rentokil Initial, the Sunday Times reported.

Rentokil declined to comment while Jansen could not be reached on Saturday.

Jansen, who stepped down as BT's chief executive earlier this year, is in talks with private equity firms over a plan that would see him installed as executive chairman of the company, the report said on Saturday.

The British pest-control firm agreed to buy Terminix in 2021, helping it build scale in North America and create a global pest control services giant.

Jansen and his prospective buyers will use Rentokil as a consolidation vehicle to mop up more pest control companies in America, the Sunday Times said.

Rentokil's stock took a big tumble last October after it warned of soft demand in North America, its largest market.

Last month, activist investor Nelson Peltz's Trian Fund Management amassed a significant stake in the company, making the New York-based hedge fund one of the top 10 shareholders in Rentokil. (Reporting by Jahnavi Nidumolu in Bengaluru Editing by Giles Elgood)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	RENTOKIL INITIAL PLC	378.00 GBX	+1.61%	-19.13%	12.22B
	BT GROUP PLC	147.15 GBX	+1.31%	+2.69%	18.6B

Nelson Peltz

Nelson Peltz (born June 24, 1942) is an American businessman and a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management. L.P., an alternative investment management fund, based in New York.

Early life and education
Peltz was born in 1942 to a Jewish family in Brooklyn, New York, He was enrolled at the undergraduate program at the Wharton School of the University of Pennsylvania, where he joined the Fraternity of Phi Gamma Delta, but never completed his degree. Triangle was sold to Pechiney in 1988.

In 1997, through an investment vehicle they controlled, Triarc Cos, Peltz and May acquired Snapple, from Quaker Oats. Snapple, together with other beverage brands was sold to Cadbury Schweppes in 2000. The Snapple turnaround was featured as a Harvard Business School case study.

In 2006 Trian was involved in a proxy contest with Heinz to get five independent directors on the board of Heinz. In the end Trian succeeded in getting two members on the board, including Peltz.

In 2007, Trian bought a 3% share of Cadbury-Schweppes which may have influenced the spin-off of Cadbury Schweppes Americas Beverages from the Cadbury Schweppes confectionery group. In 2007, Trian also bought $1.8 billion in shares of Kraft Foods, roughly a 3% of the total equity of the food maker.Cite news| url = |title= Peltz Has His Slic

Source @ Wikipedia

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Trian Fund Management LP Trian Fund Management LP Investment ManagersFinance Trian Fund Management LP, dba Trian Partners (Trian), is an independent, SEC-registered investment advisor and hedge fund manager headquartered in New York City. The firm was founded in 2005 by Founding Partners, Nelson Peltz and Peter May. Trian provides discretionary investment advisory services to a variety of domestic and offshore private investment partnerships and other investment vehicles.	Chief Executive Officer
Trian Partners General Partner LLC Trian Partners General Partner LLC Miscellaneous Commercial ServicesCommercial Services Trian Partners General Partner LLC provides business services related to hedge funding. The company is the general partner of Trian Onshore, Trian Offshore, and Trian Offshore (Non-ERISA). It is located in New York, NY.	Chief Executive Officer

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