Brookfield to acquire Reliance Worldwide in all-cash $2.9B deal

[Merger and Acquisition Industry Corporation Partnership concept. Industrial worker in protective equipment holds wooden cubes with icons and touches ma virtual button.] AKart Design Brookfield has agreed to acquire plumbing products manufacturer Reliance Worldwide for about $2.9B in an all-cash deal. The offer values Reliance at $3.38 per share, equivalent to A$4.75 per share, and represents a roughly 32% premium to its August 17 closing price. Reliance board unanimously recommended the deal to shareholders. The transaction is subject to shareholder, regulatory and other customary approvals and is expected to close in Q1 2027. The agreement includes a “Go Shop” provision allowing Reliance to seek and negotiate competing proposals.