Brookfield moved to acquire Reliance Worldwide Corporation (RWC), an ASX‑listed Australian plumbing products manufacturer, in an all‑cash proposal valuing the company at about A$4.1bn ($2.9bn).

RWC announced it had entered into a process deed with Brookfield Capital Partners, a unit of the alternative asset manager, after the firm’s fourth approach finally won board engagement. The unsolicited, non‑binding, indicative proposal would buy 100% of RWC’s shares for A$4.75 ($3.37) each in cash, implying an equity value of roughly A$3.55bn ($2.5bn).

The offer represents a 31.6% premium to RWC’s last close of A$3.61 on 17 August, and a 43.2% premium to its six‑month volume‑weighted average price, underscoring Brookfield’s confidence in the company’s growth prospects.

The deal highlights the competitive nature of M&A in Australia’s manufacturing sector, with Brookfield’s persistence paying off after multiple attempts and demonstrating the appeal of all‑cash offers in a market that rewards clear valuation and strategic alignment.