Brookfield Asset Management (BAM) said late Tuesday it has agreed to acquire plumbing and heating products maker Reliance Worldwide for $3.38 per cash, valuing the company at about $2.8 billion including debt.
The company said Reliance's board unanimously recommended the deal, which requires shareholder approval.
Brookfield said it plans to support Reliance's growth by investing in its operations and expanding its product offerings.
The deal is expected to close in Q1 2027, it added.
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