KWM advises Brickworks on major merger

The merger will create a newly capitalised top-hat entity valued at approximately $14 billion pre-announcement with significant operational benefits for both companies. 

The KWM team, featuring partners David Friedlander, Judith Taylor, Robert Kelly, and Dan Natale, along with Senior Associates Jaspreet Nagra, Ned Sutton, and Jim Zovaro, played a crucial role in all aspects of the transaction. 

Judith Taylor expressed excitement about the merger, stating “We are excited to support Brickworks in this transformative merger, which creates a modern, fit-for-purpose entity offering significant value to shareholders of both companies.” David Friedlander also commented, noting, “The success of this deal sends two important signals. 

Current volatility aside, it is possible to find valuation common ground on scrip-for-scrip transactions. Also, capital markets are open and willing to support deals.” This merger marks a continuation of KWM’s longstanding relationship with Brickworks, addressing previous shareholder activism regarding ownership structure. The implementation of the merger is anticipated in September 2025, and KWM is set to continue its support throughout the process.

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