Brookfield Clear to Acquire RWC as 30 Day Go Shop Window Closes with No Rival Bids
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Reliance Worldwide Corporation Limited (ASX: RWC) has reported on 19 October 2026 that its 30 day Go Shop period has concluded with no competing acquisition offers submitted to challenge Brookfield's takeover proposal.
This period followed a Scheme Implementation Deed signed on 16 September 2026 where Brookfield Capital Partners agreed to buy 100% RWC ordinary shares for US$3.38 per share in cash, equal to about A$4.87 per share based on current exchange rates.
Extensive engagements were made across both strategic and financial buyers through 16 October 2026 but RWC’s financial advisers received no competing bids. Standard restrictions (no shop, no talk and no due diligence) and Brookfield's matching rights are now active.
RWC Chair Russell Chenu stated that the outcome supports the board's view that Brookfield's cash offer is fair and valuable. Management added that testing the market gave shareholders clear proof of the offer's worth. Management highlighted that market testing provided shareholders with transparent evidence that the Brookfield offer represents fundamental value.
The board continues to unanimously recommend that shareholders vote for the deal provided no better proposal emerges and the Independent Expert agrees. Board members plan to vote their own shares in favor. The acquisition still needs approval from regulators, the court and shareholders.
The Scheme Booklet will be sent out in early November 2026 with a shareholder vote planned for early to mid December and completion expected by late December 2026.
(Source: Company Announcements)
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