MORSCO: Reece bursts into US market with $1.9 billion acquisition

Melbourne-based plumbing giant Reece Group (ASX: REH) has acquired US-based distributor MORSCO Inc. for AUD$1.9 billion in a deal partially funded by the company's latest round of capital raising. Reece announced today that it raised approximately $248 million through an institutional placement and institutional entitlement offer to p...