Stocks of Australia's Soul Patts and Brickworks surge after merger ends 56-year cross-ownership
1. Washington H. Soul Pattinson and Brickworks announced a $9 billion merger. 2. Shares of both companies surged, 13.78% for Soul Patts and 22.32% for Brickworks. 3. The merger simplifies corporate structure and enhances investability for shareholders. 4. This deal unwinds a 56-year mutual ownership aimed at protecting both companies. 5. Investors respond positively, reflecting optimism about the merger's strategic benefits.