Merger of Brickworks and Washington H. Soul Pattinson

Australia · A$14B (~$9B USD)

Brickworks Limited (ASX: BKW) and Washington H. Soul Pattinson (ASX: SOL) merged under a newly capitalised ASX-listed holding company via two inter-conditional schemes of arrangement, unwinding a 56-year cross-shareholding. Brickworks shareholders received 0.82 TopCo shares at a 10.1% premium. A$1.4B equity raise supported the deal. Closed September 19, 2025.