By Digifin Pty Ltd · About this coverage
Key Points
- No alternative proposal received during the go-shop period that ended on 16 October 2026
- Board reaffirms unanimous recommendation of the US$3.38 cash per share scheme
- Cash consideration implies A$4.87 per share at an AUD/USD rate of 0.6947
- No-shop, no-talk and no-due-diligence restrictions now apply
- Scheme meeting expected early to mid-December 2026, implementation late December
About Reliance Worldwide (ASX:RWC)
Reliance Worldwide Corporation Limited is an ASX-listed manufacturer of water flow, control and monitoring products for the plumbing industry. Its brands include SharkBite push-to-connect fittings, Cash Acme valves, HoldRite and John Guest, sold largely into repair and remodel channels through plumbing wholesalers and hardware retailers. It manufactures and sells in the Americas, the United Kingdom and Europe and the Asia-Pacific region, and reports in US dollars.
Reliance Worldwide (ASX:RWC) has confirmed that the go-shop period under its agreed sale to Brookfield ended without any alternative proposal, and its Board has reaffirmed its recommendation of the cash scheme.
The scheme implementation deed signed on 16 September 2026 provides for Brookfield to acquire 100% of RWC for US$3.38 cash per share, which RWC says implies A$4.87 per share at the AUD/USD exchange rate of 0.6947 on 16 October 2026. The deed allowed RWC and its advisers to actively solicit alternative proposals until 11.59pm (Melbourne time) on 16 October 2026. RWC says there was extensive engagement with potential strategic and financial buyers but no proposal was received, and the Board considers no superior proposal is likely to emerge as at the date of the announcement. Customary no-shop, no-talk and no-due-diligence restrictions now apply, subject to fiduciary exceptions, and Brookfield's matching right continues. The Directors unanimously recommend shareholders vote in favour, in the absence of a superior proposal and subject to the Independent Expert concluding the scheme is in shareholders' best interests.
The scheme remains subject to shareholder, Court and regulatory approvals and the Independent Expert's conclusion. The indicative timetable has the scheme booklet despatched in early November 2026, the scheme meeting in early to mid-December and implementation in late December 2026, and RWC says it may change. The release does not identify the regulatory approvals required.
Source: Reliance Worldwide Corporation Limited (ASX:RWC), 19 October 2026. Summary content supplied by Digifin Pty Ltd.
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