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Reliance Worldwide Enters Process Deed With Brookfield Over AU$4.1 Billion Takeover Proposal

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Reliance Worldwide (ASX:RWC) entered into a process deed with Brookfield Capital Partners following Brookfield's unsolicited, non-binding, indicative proposal to acquire Reliance Worldwide shares by way of a scheme of arrangement at AU$4.75 per share, according to a Tuesday Australian bourse filing.

The company said the proposal reflects an enterprise value of about AU$4.1 billion and a transaction multiple of 12.1 times fiscal 2026 earnings before interest, taxes, depreciation and amortization (EBITDA) on a post-AASB16 basis, with the board determining to enter into the process deed to enable Brookfield to advance the proposal.

Under the process deed, Reliance Worldwide has agreed to exclusivity restrictions including non-solicit, no talk and no due diligence obligations from Aug. 17 to Sept. 15, the filing added.

Brookfield has agreed that any scheme implementation deed will include a 30-day "go-shop" provision, under which Reliance Worldwide will be allowed to solicit third-party interest, provide due diligence information and negotiate terms of any alternative proposal, it added.

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