07:29 AM EDT, 06/12/2024 (MT Newswires) -- Trian Fund Management has amassed a top-10 shareholder stake in Rentokil Initial ( RTO ) and has reached out to the company to discuss ways to increase shareholder value, news outlets reported Wednesday, citing a statement from the activist investor.

Shares of the UK-based pest control company, which owns Terminix in the US, were up more than 12% in Wednesday's premarket session.

Trian, led by investor Nelson Peltz, two years ago invested in Unilever ( UL ) and convinced the company to appoint him to the board, Bloomberg reported.

Trian and Rentokil did not immediately reply to MT Newswires' request for comment.

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