May 6, 2018 / 11:31 PM / 4 months ago

Australia's Reece to buy U.S. plumbing equipment supplier for $1.4 bln

May 7 (Reuters) - Australian plumbing products supplier Reece Ltd said on Monday it would buy U.S.-based plumbing and waterworks equipment distributor MORSCO Inc. for $1.44 billion.

The deal would be funded through a combination of cash and debt, Reece said in statement.

It announced a A$560 million ($421.6 million) equity raise.

$1 = 1.3282 Australian dollars Reporting by Rushil Dutta in Bengaluru; Editing by Stephen Coates

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