We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Terminix Global Holdings, Inc. (“Terminix” or the “Company”) (NYSE: TMX), in connection with the proposed acquisition of the Company by Rentokil Initial plc (“Rentokil Initial”). Under the terms of the merger agreement, Rentokil Initial will issue to Company shareholders approximately 643.29 million new Rentokil Initial shares (representing approximately 128.66 million American depository shares (“ADSs”), based on a 1:5 ADS to Rentokil Initial share ratio) and approximately $1.3 billion in cash. Terminix shareholders may elect to receive all cash or all stock consideration, subject to proration in the event of oversubscription. Each Terminix share for which no election or an invalid election is received will be deemed to have elected for all stock consideration. The transaction is valued at approximately $6.7 billion.
WeissLaw LLP is investigating whether (i) Terminix’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Terminix’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.