Reliance Worldwide poised for third weekly gain on agreeing to Brookfield's $2.9 billion offer

Brookfield

18/09/2026 02:35

** Shares of Reliance Worldwide RWC.AX rise as much as 0.4% to A$4.54 in early trade, heading for a sixth straight session of gains
** Stock up 6% for the week, on track for a third straight weekly gain
** Plumbing supplies firm on Wednesday entered scheme implementation deed with global investment firm Brookfield BN.TO at $3.38 per share
** Said offer gave co an enterprise value of $2.9 billion
** Said they agreed to a "Go Shop" provision that allows Reliance Worldwide to seek rival bids, share due-diligence materials and negotiate terms
** Said Reliance board recommended shareholders vote in favour of Brookfield proposal
** Stock up 17.5% YTD, including the day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))