Lovells prepares to back client's takeover of Rentokil Initial

Lovells is preparing to pull on the boxing gloves as the deadline looms for client Sir Gerry Robinson (pictured) to launch a formal effort to oust the present management of Rentokil Initial. Speculation has been rife as to whether Robinson would put his money where his mouth is and bid for the struggling pest control company or walk away. The Takeover Panel had issued Robinson with a put-up or shut-up deadline of today (17 October). Robinson was understood to be using the run-up to the deadline to drum up support for his bid, as a precursor to calling an extraordinary general meeting (EGM) through shareholder Franklin Templeton Investments, which has supported him publicly. But at the time of The Lawyer going to press, Robinson had not made a formal bid or convinced Franklin Templeton to call an EGM. Lovells is advising Robinson on what could prove to be a highly lucrative role, while Denton Wilde Sapte and Freshfields Bruckhaus Deringer have teamed up to advise regular client Rentokil.