Rentokil Initial $6.7 billion acquisition of Terminix Global Holdings
Davis Polk is advising Rentokil Initial plc on its $6.7 billion stock and cash acquisition of Terminix Global Holdings Inc. The transaction is expected to close in the second half of 2022, subject to approval from the shareholders of both Rentokil Initial and Terminix, US regulatory approval and other customary closing conditions.
Founded in 1925, Rentokil Initial is a leader in the pest control and hygiene and wellbeing service industry. Rentokil has approximately 44,500 employees, and over 1,800 local service teams across the world covering around 90% of global GDP in over 90 of the world’s 100 largest cities. Terminix is a leading provider of residential and commercial pest management. Terminix provides pest management services and protection against termites, mosquitoes, rodents and other pests.
The Davis Polk corporate team includes partner William H. Aaronson and associate Shanu Bajaj. The executive compensation team includes partner Jeffrey P. Crandall. The intellectual property and technology transactions team includes partner Pritesh P. Shah. The tax team includes partner William A. Curran. The antitrust and competition team includes partner Howard Shelanski and counsel Suzanne Munck af Rosenschold. The finance team includes partner J.W. Perry and associate Jack Orford. The capital markets team includes partner John B. Meade. Members of the Davis Polk team are based in the New York and Washington DC offices.