Brookfield has successfully secured a $2.9 billion take-private deal for Reliance Worldwide after a fourth attempt. The firm was previously rebuffed at A$4.15, A$4.25, and A$4.50 per share earlier in the year. Under the binding scheme implementation deed, Reliance Worldwide shareholders will receive US$3.38 in cash per share, equivalent to A$4.75 at the prevailing exchange rate, with the option to take payment in either currency. The price represents a 31.5% premium to the undisturbed share price and 43.0% to the six-month volume-weighted average, and values the company at 12.1 times its FY26 adjusted EBITDA.

The acquisition marks a significant shift in the Australian infrastructure sector. Reliance Worldwide, known for its plumbing and water management solutions, will be delisted from the ASX following the completion of the transaction. Brookfield's persistence paid off after three failed bids, culminating in this substantial premium offer that underscores the strategic value of the target company's market position and growth prospects.