Australia’s Reliance Worldwide agrees to Brookfield’s $2.9-billion buyout bid

Reliance Worldwide will support Brookfield's nearly US$2.9 billion buyout proposal. The transaction offers a positive exit catalyst for shareholders, but comes as the Australian plumbing-supplies company faces pressure from U.S. tariffs and broader economic uncertainty. The deal is likely to be material for Reliance Worldwide and relevant to private-equity M&A activity.