Reliance Worldwide Corporation Ltd shares are having another strong session on Wednesday.
The latest rise comes after another development in the company's takeover talks.
Under the deal, Brookfield plans to acquire all Reliance shares for US$3.38 each in cash, or around $4.75 per share.
Its first approach came in at $4.15 per share, followed by offers of $4.25 and then $4.50.
At $4.52, Reliance shares are still trading below the $4.75 value of Brookfield's offer.
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Reliance Worldwide Corporation Ltd shares are having another strong session on Wednesday. According to the release, Reliance has signed a scheme implementation deed with Brookfield Corp.
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Reliance Worldwide Corporation Ltd shares are having another strong session on Wednesday.
The stock is up 4.39% to $4.52 after trading as high as $4.65 earlier this morning.
The latest rise comes after another development in the company's takeover talks.
According to the release, Reliance has signed a scheme implementation deed with Brookfield Corp.
Under the deal, Brookfield plans to acquire all Reliance shares for US$3.38 each in cash, or around $4.75 per share.
On an enterprise value basis, that values the company at about $4.1 billion.
Its first approach came in at $4.15 per share, followed by offers of $4.25 and then $4.50.
Chair Russell Chenu said the board had "carefully assessed" the offer, including Reliance's outlook, growth opportunities, and cash generation.
According to The Australian, the super fund recently increased its stake in Reliance to 14.68%.
At $4.52, Reliance shares are still trading below the $4.75 value of Brookfield's offer.
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