QXO To Acquire Beacon For $124.35/shr - Quick Facts

(RTTNews) - QXO, Inc. (QXO) and Beacon Roofing Supply, Inc. (BECN) have entered into a definitive merger agreement under which QXO will acquire Beacon for $124.35 per share. The transaction values Beacon at approximately $11 billion, including all its outstanding debt. Beacon's board unanimously recommended that all shareholders tender their shares into the offer. The transaction is expected to close by the end of April.

On January 27, 2025, QXO commenced an all-cash tender offer to acquire all of the outstanding shares of Beacon. QXO now has extended its current tender offer to expire on March 31, 2025. QXO will amend its current tender offer on or prior to the new expiration date to reflect the terms of the definitive merger agreement with Beacon, including to reflect an offer price of $124.35 per share in cash.

QXO has withdrawn its nomination of 10 independent director nominees for election at Beacon's annual meeting of shareholders. Beacon has exempted the tender offer from its previously adopted shareholder rights plan.