Reliance Worldwide hits 1-year peak on agreeing to Brookfield's $2.9 billion buyout bid

Brookfield

16/09/2026 01:21

** Shares of Reliance Worldwide Corporation RWC.AX rise as much as 7.4% to A$4.65 in early trade, their highest level since August 18, 2025
** Stock logs largest intraday pct gain since August 18 this year
** Plumbing supplies firm enters scheme implementation deed with global investment firm Brookfield BN.TO at $3.38 per share
** Says offer gives co an enterprise value of $2.9 billion
** Adds deed allows Reliance to commence a "Go Shop" provision, allowing co to seek rival bids, share due-diligence materials and negotiate terms
** Says Reliance board recommends shareholders vote in favour of Brookfield proposal
** Stock up 17.8% YTD, including the day's moves

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