Building products distributor QXO launching hostile bid for Beacon, WSJ reports (updated)

Beacon Roofing Supply

27/01/2025 01:41

(Adds details from the WSJ report and background in paragraph 3
onwards)
       Jan 26 (Reuters) - 
    Building products distributor QXO  QXO.N  is preparing to
take its all-cash offer to acquire Beacon Roofing Supply
 BECN.O  directly to shareholders after being rejected on
several occasions, the Wall Street Journal reported on Sunday.
    QXO is planning to launch a hostile bid as soon as Monday,
offering to buy all shares outstanding of Beacon for $124.25 per
share, the same price it previously proposed, the report said,
citing people familiar with the matter.
    The deal would value Beacon at $7.7 billion - roughly $11
billion including debt, according to the report. 
    QXO and Beacon Roofing Supply did not immediately respond to
Reuters' request for comments.
    QXO, which counts President Donald Trump's son-in-law Jared
Kushner as a board member, is looking to enter the massive but
fragmented building products distribution industry.
    Beacon, with a market value of $7.33 billion, is the largest
publicly traded distributor of roofing materials and
complementary building products in the U.S. and Canada,
according to its website.

 (Reporting by Disha Mishra in Bengaluru; Editing by Subhranshu
Sahu and Janane Venkatraman)
 ((Disha.Mishra@thomsonreuters.com;))