Brookfield's $2.53 bn bid for Reliance Worldwide clears 'go shop' hurdle
Reliance Industries pursued an acquisition.
· BS Companies
The plumbing supplies firm agreed in Sep to a scheme implementation deed under which Brookfield Capital Partners and its affiliates would acquire all of Reliance Worldwide's shares for $3.38…
The analysis
Against that, the stock is +0.5% on the day at ₹1,217.00, and has returned -6.6% over three months. It sits 24% below its 52-week high. The oil & energy sector has moved -3.2% over the same period, so Reliance Industries is running 3.4 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy, Capital Goods & Engineering, Capital Markets.
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