Reliance Worldwide Enters Into Scheme Implementation Deed

MT Newswires Live

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Reliance Worldwide (ASX:RWC) entered into a scheme implementation deed with a company on behalf of Brookfield Capital Partners for the acquisition of all of its shares at $3.38 apiece through a scheme of arrangement, according to a Wednesday filing with the Australian bourse.

Brookfield agreed to a "Go Shop" provision with the company allowing it to solicit alternative proposals from other parties until Oct. 15, the filing said.

The board unanimously recommended that shareholders vote in favor of the scheme in the absence of a superior proposal and subject to an independent expert continuing to conclude that it is in shareholders' best interests, per the filing.

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