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Australia’s Reliance Worldwide receives $2.9 billion takeover bid from Brookfield

First publishedAug 17, 23:07 UTC
Last updatedAug 18, 00:48 UTC · 13m ago
11 outletInvesting.com · Stock Market
Investing.com · Stock Market6Australia’s Reliance Worldwide receives $2.9 billion takeover bid from BrookfieldOpen ↗
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Australia’s Reliance Worldwide receives $2.9 billion takeover bid from Brookfield
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Aug 18 (Reuters) - Australia’s Reliance Worldwide Corporation said on Tuesday that Brookfield Capital Partners LLC had sweetened its offer to buy the plumbing solutions company for an enterprise value of A$4.1 billion ($2.91 billion). Under the proposed deal, Brookfield would acquire all outstanding ordinary shares of Reliance for A$4.75 apiece in cash, implying an equity valuation of A$3.55 billion for the Australian firm.

Reported by 1 outlet — Investing.com · Stock Market. See all sources ↓

Aug 18 (Reuters) - Australia’s Reliance Worldwide Corporation said on Tuesday that Brookfield Capital Partners LLC had sweetened its offer to buy the plumbing solutions company for an enterprise value of A$4.1 billion ($2.91 billion). Under the proposed deal, Brookfield would acquire all outstanding ordinary shares of Reliance for A$4.75 apiece in cash, implying an equity valuation of A$3.55 billion for the Australian firm. Reliance said Brookfield had made a series of unsolicited, non-binding, indicative offers in April and May at A$4.15, A$4.25 and A$4.50 a share, all in cash. Reliance also said it has signed a process deed with Brookfield to move the proposal forward.

Read the full report at Investing.com · Stock Market ↗

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What's the story?
Aug 18 (Reuters) - Australia’s Reliance Worldwide Corporation said on Tuesday that Brookfield Capital Partners LLC had sweetened its offer to buy the plumbing solutions company for an enterprise value of A$4.1 billion ($2.91 billion). Under the proposed deal, Brookfield would acquire all outstanding ordinary shares of Reliance for A$4.75 apiece in cash, implying an equity valuation of A$3.55 billion for the Australian firm.
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1 outlet, average source rating 6.0/10.
When was it last updated?
13m ago.
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    Australia’s Reliance Worldwide receives $2.9 billion takeover bid from Brookfield

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    Investing.com · Stock Market
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organizationAustraliaorganizationReliance WorldwideorganizationReliance Worldwide Corporation
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Avg source rating 6.0/10
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