Rentokil to buy US extermination specialist Terminix in $6.7bn deal

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Rentokil will acquire the extermination group Terminix with the aim of becoming a world leader in pest control while expanding its market share in the United States.

The two companies have agreed to a deal valuing Terminalix shares at $ 6.7 billion, or $ 55 per share. This is a 47% premium on Monday’s closing price.

“This is an exciting next step in Terminix’s journey to becoming a global leader in pest management,” said Brett Ponton, Chief Executive Officer of Terminix.

Rentokil said in a statement Tuesday that it would pay Terminix shareholders about $ 1.3 billion in cash and the rest in stock.

Andy Ransom, Rentokil’s Chief Executive Officer, said: “We will open the first Innovation Center in the United States to bring industry-leading innovation and digital technology to a much larger customer base.”

Rentokil to buy US extermination specialist Terminix in $6.7bn deal Source link Rentokil to buy US extermination specialist Terminix in $6.7bn deal

The post Rentokil to buy US extermination specialist Terminix in $6.7bn deal appeared first on California News Times.

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