Australia's Brickworks surges on $9 bln Soul Patts merger

Washington H. Soul Pattinson and

06/06/2025 02:23

** Shares of Brickworks BKW.AX marginally down 0.3% at A$32.4 on the day

** Stock gains 18.1% so far this week, set for its strongest week since late September 2009, if trends hold

** Washington H Soul Pattinson SOL.AX said on Monday that it would buy out Brickworks, its building products affiliate, and form a new ASX-listed company with expected valuation A$14 billion ($9.11 billion)

** Soul Patts shareholders to own 72% of newly formed firm while Bricksworks shareholders to own 19%, with remainder offered to new shareholders

** Stock up 26.2% YTD, including current session's moves

($1 = 1.5363 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))