Having been forced out of Tomkins by a "Scheme of Arrangement" (Sold out by the management some investors may say) the fund had to look elsewhere to invest the proceeds. It had thought of investing in either Ambrian (1 October high/low 23.50p(21.75p today 25.65p) or Man Group (1 October high/low 222.70p/214.70p today 264.00p) but missed the boat - earlier it had thought of Hays at 91p but the shareprice had moved up sharply recently. It decided to invest the proceeds in Rentolkil Initial at £1.0056. If there is a takeover at 145p it would be a gain of 45% or on the average paid for the total holding 115.12p - 25.95%
The flurry of takeover speculation which gripped the market last week according to Rosamund Urwin (06.09.10) Ratcatcher and parcels delivery group Rentokil was whispered to have caught a suitor's eye, with a bid price of 145p a share mentioned. Private equity was said to be the interested party. Recently a stockbroker has given it a "buy" recommendation
Description
Rentokil Initial plc is a holding company, which provides a range of business-to-business support services. The Company’s segments include Textiles and Washroom Services, Pest Control, Asia Pacific, Ambius, City Link and Facilities Services. The Company has operations in Europe, North America, Asia Pacific and Africa. Some of the Companies subsidiaries include Dudley Industries Ltd, Initial Building Services Ltd, City Link Ltd, Initial Facilities, Rentokil Initial Pty Ltd, Rentokil Initial GmbH, Rentokil Initial (Bahamas) Ltd, Rentokil Pest Control and Insitu Cleaning Ltd. In June 2010, the Company acquired Knightsbridge Guarding Holdings Limited and Perception UK LLP.
Company website:
http://www.rentokil-initial.com
http://www.rentokil-initial.com
Cable & Wireless and Rentokil get a boost from takeover talk
This is London - Sep 6, 2010
The flurry of takeover speculation which gripped the market last week showed no sign of abating today, with Cable & Wireless Worldwide and Rentokil Initial the beneficiaries. Ratcatcher and ...
recent news
Procurement optimisation saves Rentokil £40m
Procurement Leaders News - Aug 3, 2010
Ongoing supply chain, procurement and HR optimisation programmes have helped Rentokil Initial to achieve cost savings of £40m during the first half of the year - running ahead of a £75m full year ...
RTT News - Jul 30, 2010
(RTTNews) - Pest control and cleaning company Rentokil Initial plc (RTO.L: News ) Friday said its second quarter pre-tax profit, at 2009 constant exchange rates or CER, rose to GBP 15.2 million ...
Wall Street Journal - Jul 30, 2010
By Anita Likus LONDON (Dow Jones)--Pest control and cleaning specialist Rentokil Initial PLC (RTO.LN)--in the midst of major restructuring--Friday kept its full-year expectations unchanged ...
The business on...Alan Brown, Chief executive, Rentokil Initial Independent
Rentokil profits up on cost cuts Financial Times
Rentokil profits up on cost cuts Financial Times
Fiji Times - Jul 13, 2010
AIRPORTS Fiji Ltd has contracted Rentokil Initial to provide clean-up services at the Nadi International Airport. AFL chief executive officer Ratu Timoci Tuisawau said Rentokil's involvement in a ...
Rentokil Initial plc Announces Acquisition Of Knightsbridge Guarding Holdings Limited And Perception UK LLP
Reuters Key Development - Jun 28, 2010
