LONDON (dpa-AFX) - Pest control firm Rentokil Initial Plc. (RTO.L), in an update on the acquisition of Terminix Global Holdings, said that effect from the close of business on 14 March 2022, the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has now expired, thereby completing the necessary antitrust process in the US and satisfying one of the principal conditions to completion of the transaction.
Rentokil Initial said in December 2021, that it agreed to acquire Terminix Global Holdings Inc. for stock and cash. The deal valued the entire share capital of Terminix at $6.7 billion, implying a value of $55.00 per share of Terminix common stock.
Rentokil noted Tuesday that it is pleased with the progress being made in order to satisfy the remaining conditions, and the companies are now targetting the Combination closing towards the end of the third quarter of 2022.
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