Terminix acquired by Rentokil
Rentokil will begin trading on the New York Stock Exchange under the ticker symbol “RTO.”
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Rentokil will begin trading on the New York Stock Exchange under the ticker symbol “RTO.”
The $6 billion acquisition is expected to close Wednesday, Oct. 12.
Almost six months after announcing it would be acquired by British company Rentokil for $6.7 billion, Memphis-based Terminix is disclosing potential risks associated with the deal, as well as possible golden parachute payouts for its top executive officers. Related story:
Recently filed SEC documents reveal that negotiations between Terminix and Rentokil Initial go back at least four years.
Terminix has entered into a definitive agreement to divest its pest management businesses in the U.K and Norway.
Upon the acquisition, the combined company will have 56,000 employees serving 4.9 million customers worldwide, including 790 locations.
The proposed new majority owner of the merged companies, Rentokil, “supports us and our team and leadership,” a Teminix spokesman says.
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