Brookfield has agreed to acquire Reliance Worldwide Corporation for US$3.38 per share, equivalent to A$4.75, valuing the Australian plumbing-products maker at about A$4.1 billion, or roughly US$2.9 billion, including debt. Reliance's board unanimously endorsed the cash offer after weighing the certainty of payment against the risks of its standalone growth strategy. Shareholders may elect payment in Australian or U.S. dollars. The deal includes a go-shop provision that allows Reliance to seek and negotiate rival proposals until Oct. 15, while Brookfield can match a superior offer. Reliance shares rose as much as 7% to A$4.65 in Wednesday trading before closing 3.5% higher. The company has faced pressure in North America, where fiscal 2026 Americas sales fell 4% and adjusted operating earnings dropped more than 11% amid U.S. tariffs, lower volumes and higher input costs. Subject to approvals and absent a better offer, the transaction is expected to close in the first quarter of 2027, when Reliance would delist from the Australian Securities Exchange.