By Digifin Pty Ltd · About this coverage
Key Points
- Binding SID: Brookfield to acquire 100% for US$3.38 cash per share
- Implies A$4.75/share at 0.7122 AUD/USD; EV about US$2.9bn
- About 31.5% premium to undisturbed 17 Aug close
- Go-shop to 15 Oct 2026; break/reverse break fees US$25.3m each
- Board recommends, subject to no superior proposal and Independent Expert
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 entered a binding scheme implementation deed under which Brookfield will acquire 100% of its ordinary shares for US$3.38 cash per share.
The cash consideration implies A$4.75 per share at the 15 September 2026 AUD/USD rate of 0.7122. The transaction reflects an enterprise value of about US$2.9 billion, or roughly 12.1x FY26 adjusted EBITDA on a post-AASB16 basis. Versus undisturbed prices on 17 August 2026, that is about a 31.5% premium to the last close, 32.7% to the 3-month VWAP and 43.0% to the 6-month VWAP. Shareholders may elect to receive the cash in US dollars or Australian dollars at implementation. A go-shop period runs until 15 October 2026. Break and reverse break fees are each US$25.3 million. Directors unanimously recommend shareholders vote in favour, subject to no superior proposal and an Independent Expert concluding (and continuing to conclude) the scheme is in shareholders' best interests. A Scheme Booklet is expected to be sent in November 2026, with implementation targeted for Q1 2027.
The scheme still requires shareholder approval at a Scheme Meeting, court and regulatory approvals, a favourable Independent Expert report, and other customary conditions including no material adverse change.
Source: Reliance Worldwide Corporation Limited (ASX:RWC), 16 September 2026. Summary content supplied by Digifin Pty Ltd.
News summary only, not financial advice. It does not consider your objectives, financial situation or needs.