Former BT CEO Eyes Takeover of Rentokil

Former BT Group CEO Philip Jansen is reportedly considering a takeover bid for Rentokil Initial, a FTSE 100 pest control company, and is in talks with private equity firms to secure funding. Rentokil's struggles in North America, particularly after its acquisition of Terminix in 2021, have led to integration issues and a profit warning, prompting investor interest. Activist investor Nelson Peltz recently acquired a significant stake in Rentokil, indicating potential for a major shake-up or even a shift of primary listing to the US. Jansen aims to enhance Rentokil's US performance, potentially using it as a consolidation vehicle for acquiring more pest control firms in America. This move aligns with a recent trend of London-listed firms being targeted for takeovers, with potential private equity involvement from firms like CVC and Bain Capital.