Reliance Worldwide Says Australian Federal Court Approves Shareholder Meeting on Proposed Takeover

MT Newswires Live08:48

Reliance Worldwide (ASX:RWC) said the Australian Federal Court approved convening a shareholding meeting to vote on the proposed acquisition of all of its ordinary shares by a company on behalf of Brookfield Capital Partners through a scheme of arrangement, according to a Friday filing with the Australian bourse.

Shareholders registered as of Dec. 2 will be eligible to vote at the meeting slated for Dec. 4, the filing said.

The court also approved the distribution of an explanatory statement about the scheme and the notice of meeting to shareholders, per the filing.

Reliance Worldwide shares rose nearly 2% in morning trade Friday.

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