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Rentokil wants to find a terminally damaging group for Terminix, as it seeks to become a global leader in pest control as it expands its US market.
The companies have agreed to a contract that stipulates that Terminix is $ 6.7bn, or $ 55 per share. Then the price is 47% until the closing price on Monday.
“This is an exciting step forward that furthers Terminix’s journey to become a global pest control leader,” said Terminix CEO Brett Ponton.
Rentokil will provide about $ 1.3bn to Terminix shareholders and all others in the region, the company said Tuesday.
“These are two very supportive businesses with a matching book,” said Rentokil CEO Andy Ransom. “We are opening our first new headquarters in the US and delivering our state-of-the-art equipment and digital technologies to a larger customer base.”
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