Reliance Worldwide Backs Brookfield Buyout
Australias Reliance Worldwide agreed to a nearly 2.9 billion dollar buyout offer from Brookfield. The plumbing supplies company faced headwinds from US tariffs and economic uncertainty.
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RELIANCE WORLDWIDE CORP LTD agreed to a $2.9 billion buyout from BROOKFIELD CORP on Wednesday morning, as the plumbing supplies maker faces pressure from United States tariffs. The transaction values the target at A$4.75 per share, matching an August approach. The deal offers investors a choice between cash in Australian dollars or U.S. dollars.
