Source: Sharecast
According to sources cited by Bloomberg, the investment firm is now among the top 10 shareholders in Rentokil, which owns Terminix in the US.
Meanwhile, CNBC said a spokesperson for Trian said it was looking to engage with Rentokil’s leadership on "ideas and initiatives to improve shareholder value".
At 0835 BST, the shares were up 13.3% at 470.60p.
Russ Mould, investment director at AJ Bell, said: "Peltz is likely to pursue a big shake-up of a company which has struggled in comparison with its US peer Rollins, both in share price terms and financial performance.
"Given Rentokil does a large chunk of its business across the Atlantic this could include a push to shift its primary listing to the US, which would be another blow to the prestige of London as a listing venue. Trian pursued a similar approach with Ferguson which made the move in 2022."