May 7 (Reuters) - Australian plumbing products supplier Reece Ltd REH.AX 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)