Soul Patts, Brickworks Merge in $9 Billion Deal | JQJO

Australian investment firms Washington H. Soul Pattinson (Soul Patts) and Brickworks announced a A$14 billion ($9 billion) merger, sending their shares soaring. Soul Patts shares rose 13.78%, while Brickworks jumped 22.32%. A new Sydney-listed company will acquire all outstanding shares, creating a $9 billion entity with diverse holdings. The merger simplifies the structure, increasing scale and investment appeal, according to Soul Patts CEO Todd Barlow. This ends a 56-year mutual ownership criticized for suppressing shareholder value. Brickworks shareholders will receive A$30.28 per share, a 10.1% premium.