Rentokil Initial PLC (LSE:RTO) shares surged 13% higher on Monday morning after weekend reports that it might be a takeover target.
The royal rat-catcher was reported to be a target for former BT boss Philip Jansen (pictured), who the Sunday Times said is plotting a takeover with the help of private equity firms.
Jansen would be installed as executive chairman as part of the deal, it was reported, with a focus on improving the performance of the 2022 acquisition of US rival Terminix and then snapping up more US peers.
Wobbles at Terminix hit Rentokil shares hard last autumn after it warned of softer trading in North America, where following the deal it makes around half of its revenue, and remained volatile since.
However, results issued this Thursday are expected to show more solid growth.