Reliance Confirms No Rival Bids in Brookfield Deal
Reliance Worldwide announced that no rival bidder emerged during the go shop process for Brookfield's proposed 2.53 billion dollar acquisition. The board reaffirmed its unanimous recommendation for shareholders to approve the cash deal.
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Brookfield Corp's $2.53B takeover bid for Reliance Worldwide Corp Ltd cleared its go-shop hurdle on Monday morning. No rival bidders emerged during the process, which is unusual for deals in Australia. The board reaffirmed its unanimous recommendation for shareholders to back the US$3.38 per-share cash offer.
