Reliance Worldwide Shares Fall 4.4% as Investors Await Clarity on Potential Brookfield Takeover Offer

SYDNEY — Shares of Reliance Worldwide Corp. fell more than 4% on Wednesday as investors continued to weigh the outlook for the plumbing products maker amid a potential takeover approach.

Reliance Worldwide shares dropped 0.20 Australian dollars, or 4.43%, to A$4.32 in afternoon trading. The stock traded between A$4.18 and A$4.39, with about 12.7 million shares changing hands, well above typical volume. The company's market value stood at about A$3.2 billion.

It was not immediately clear whether the company had released new information to the market. The shares are up about 10% over the past year.

Takeover interest

In August, when it reported fiscal 2026 results, Reliance Worldwide said its board was evaluating a potential acquisition proposal from Brookfield at 4.75 Australian dollars per share.

Wednesday's share price remained below that level, reflecting uncertainty about whether a binding deal will be reached. The status of discussions was not immediately clear.

About Reliance Worldwide

Reliance Worldwide designs and manufactures plumbing and heating products, including its well-known SharkBite push-to-connect fittings. The company sells products in the Americas, Asia-Pacific and Europe, with the United States its largest market.

Tariffs and weak markets

The company has faced challenges from U.S. tariffs and weaker demand in some markets. Adjusted EBITDA fell 12.8% in fiscal 2026, according to its results.

Reliance Worldwide has worked to reduce the impact of tariffs by sourcing products from lower-tariff countries and raising prices. The company also carried out an on-market share buyback earlier this year.

What's next

Investors will be watching for any update on the Brookfield proposal, which could have a significant impact on the share price. The company's annual general meeting, typically held in late October, may also provide an update on trading conditions.