Brookfield Agrees to Acquire Reliance Worldwide for US$2.9 Billion

Brookfield has agreed to acquire all shares of Reliance Worldwide Corporation through a scheme of arrangement for US$3.38 in cash per share, valuing the global plumbing-products maker at approximately US$2.9 billion. The offer translates to about A$4.75 at the Sept. 15 exchange rate and represents premiums of roughly 31.5% to the undisturbed share price, 32.7% to the three-month VWAP and 43% to the six-month VWAP. Because the consideration is fixed in U.S. dollars, its Australian-dollar value will fluctuate until completion, although shareholders may elect payment in either currency. RWC’s board unanimously recommends the transaction, while a go-shop period through Oct. 15, 2026, allows the company to solicit and negotiate superior proposals subject to Brookfield’s matching rights. Completion remains conditional on shareholder, court and regulatory approvals, an independent expert’s finding that the deal is in shareholders’ best interests and other customary conditions.