Bremworth to be Acquired by Mohawk Industries' Unit; Shares Hit 52-Week High

MT Newswires Live

Oct 02

Bremworth (NZE:BRW) agreed to be acquired by Floorscape, a subsidiary of New York Stock Exchange-listed Mohawk Industries, in a deal valuing its shares between NZ$1.05 and NZ$1.15 each, representing a premium of up to 135% over the pre-review share price, according to a Thursday filing with the New Zealand bourse.

The total consideration comprises a cash payment of NZ$0.75 per share from Floorscape and a capital distribution of excess cash, estimated to be between NZ$0.30 and NZ$0.40 per share, to be delivered through a share buyback and a fully imputed dividend, the filing said.

The acquisition requires approvals from shareholders, the court, and regulators, including competition authorities in New Zealand and Australia, per the filing.

The board unanimously supports the deal and expects it to be completed in the first half of 2026, the filing added.

Bremworth's shares surged 47% in recent Thursday trade, hitting a 52-week high.

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