- Nelson Peltz's Trian has a top-10 position in Terminix-parent Rentokil and is looking to work with management to increase shareholder value.
- Rentokil shares have fallen by more than a third in the last year, as the company grapples with a softening consumer.
- The stake comes just a few weeks after Peltz's Trian disposed of its remaining stake in the Walt Disney Company, after it made an unsuccessful run for board representation.
Nelson Peltz's Trian Partners has amassed a significant stake in Terminix parent Rentokil and is seeking to engage with leadership on "ideas and initiatives to improve shareholder value," a spokesperson told CNBC Tuesday.
Shares of the pest-control giant surged around 8% after hours on the news. It had a market capitalization of $13.3 billion at Tuesday's close, prior to the spike.
Trian is a top-10 shareholder, the spokesperson said. That would mean that its stake is valued at more than $400 million, or at least 3% of shares outstanding.
A spokesperson for Rentokil, which is headquartered in London, did not immediately respond to CNBC's request for comment.
Trian's Peltz has extensive experience with consumer-oriented companies. He has previously served on the boards of Proctor & Gamble and the erstwhile Heinz. The news of his stake in Rentokil, reported earlier by Bloomberg, comes shortly after Trian disposed of its remaining stake in Disney.
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Peltz earlier this year ran an unsuccessful campaign for board seats at the entertainment giant.
