Stock

QXO proposes $11 billion cash acquisition of Beacon Roofing Supply

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Investing.com — QXO, Inc. (NASDAQ:QXO) has made a public proposal to the Board of Directors of Beacon Roofing Supply, Inc. (NASDAQ:BECN) to buy all its outstanding shares.

The proposed cash offer is $124.25 per share, which implies a total transaction value of around $11 billion.

This offer represents a 37% premium over Beacon’s 90-day volume-weighted average price of $91.02.

QXO’s chairman and chief executive officer, Brad Jacobs, stated that their all-cash offer provides significant value. He expressed his belief that Beacon’s shareholders deserve to evaluate the proposal.

Beacon Roofing Supply shares rose about 10% in pre-market trade.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

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