{
  "id": 1669705,
  "title": "Brookfield targets Reliance Worldwide in $2.9bn deal",
  "url": "https://urgent.news/2026/08/18/brookfield-targets-reliance-worldwide-in-2-9bn-deal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T07:48:36.000Z",
  "source": {
    "name": "Private Equity Wire",
    "slug": "private-equity-wire",
    "url": "https://www.privateequitywire.co.uk/brookfield-targets-reliance-worldwide-in-2-9bn-deal/"
  },
  "original_language": "en",
  "account": "Brookfield Asset Management has proposed to acquire Australian plumbing products manufacturer Reliance Worldwide Corporation (RWC) in a $2.9 billion all-cash deal, according to Bloomberg. The offer values RWC at AUD4.1 billion, or approximately AUD4.75 per share, which is a 32% premium to the company's previous closing price. The deal's announcement sparked a 23% jump in RWC's shares during early Sydney trading, with the stock reaching AUD4.43 per share. The acquisition would expand Brookfield's presence in the US construction and residential markets, which make up about 60% of RWC's revenue, while the rest of the company's sales come from Asia-Pacific, Europe, and the Middle East. Founded in 1949, RWC is renowned for its SharkBite push-to-connect plumbing fittings that can be installed without specialized tools, as well as other water control and plumbing products for residential and commercial applications. Brookfield and RWC have agreed to a four-week exclusivity period to negotiate and pursue a binding transaction. This latest proposal follows three prior attempts by Brookfield, with the initial offer of A$4.15 per share made in April. Following an eight-week due diligence period, Brookfield has increased its offer. Goldman Sachs is serving as RWC's financial advisor during this process.",
  "summary": "Brookfield Asset Management has made a proposal to acquire Australian plumbing products manufacturer Reliance Worldwide Corporation in an all-cash transaction valuing the company at approximately AUD4.1bn ($2.9bn), according to a report by Bloomberg.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}