Beacon Roofing rises after QXO offers to buy the specialty building product distributor

Beacon Roofing Supply

15/01/2025 14:00

** Shares of Beacon Roofing Supply  BECN.O  up 10.2% at
$120, premarket
    ** Building products distributor QXO  QXO.O  proposes to
acquire Beacon for $124.25 per share in cash
    ** Proposal implies a total transaction value of ~$11 bln
    ** BECN has a market capitalization of $6.74 billion,
according to data compiled by LSEG
    ** Shares of QXO down 1% at $15.59 in premarket trading
    ** BECN up ~7.2% YTD, adding to 16.7% gains last year
    ** QXO shares fell about 86% in 2024, down ~3.3% YTD
   

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))