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Australia’s Reliance Worldwide Agrees to Brookfield’s $2.9 Billion Buyout Bid
The cash offer carries a 43% premium and includes a go-shop period as Reliance Worldwide’s board seeks rival bids, the companies said.
- On Wednesday, global investment firm Brookfield announced an agreement to acquire 100% of plumbing manufacturer Reliance Worldwide Corporation for US$3.38 per share, valuing the company at approximately US$2.9 billion.
- Reliance CEO Heath Sharp said the company's prospects were hard hit by tariffs, with Americas sales slipping 4% in fiscal 2026 and adjusted operating earnings falling more than 11% due to lower volumes and higher input costs.
- The all-cash proposal represents a 43% premium to the company's six-month VWAP, providing financial certainty for the Australian manufacturer amid U.S. tariff impacts and economic uncertainty.
- Reliance Worldwide Chair Russell Chenu stated "the board is unanimous in its view that this transaction is in the best interests of RWC shareholders," with a shareholder vote tentatively scheduled for later in 2026.
- The board will actively seek alternative bids until October 15, 2026, through a "Go Shop" provision, while transaction implementation remains targeted for Q1 2027 if all conditions are met.
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Asset manager Brookfield Asset Management agreed to acquire Reliance Worldwide in a fully cash transaction that evaluates the Australian manufacturer of hydraulic materials at $2.9 billion. Exclusive material for subscribers. To have full access, access the material link and register.
·Rio de Janeiro, Brazil
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Winnipeg Free Press+2 Reposted by 2 other sources
Brookfield signs deal valued at US$2.8B to buy Reliance Worldwide
TORONTO - Brookfield Capital Partners LLC has signed a deal to buy Reliance Worldwide Corp. Ltd. that values the Australian company at about US$2.8 billion.
·Winnipeg, Canada
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Australia's Reliance Worldwide agrees to Brookfield's $2.9 billion ...
·London, United Kingdom
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Coverage Details
Total News Sources25
Leaning Left7Leaning Right4Center6Last UpdatedBias Distribution41% Left
Bias Distribution
- 41% of the sources lean Left
41% Left
L 41%
C 35%
R 24%
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