Building products distributor QXO offers to buy Beacon Roofing Supply - source (updated)

Beacon Roofing Supply

18/11/2024 19:24

(Adds shares in paragraph 2, details in paragraph 3)
       Nov 18 (Reuters) - Building products distributor QXO
 QXO.O  has made an offer to acquire Beacon Roofing Supply
 BECN.O , according to a person familiar with the matter.
    Shares of Beacon Roofing Supply rose 10% to $108.5 in
afternoon trading. Beacon and QXO did not immediately respond to
Reuters requests for comment. 
    If the talks are successful, a deal could be signed in the
coming weeks. The terms of the offer being discussed is not yet
known. 
    QXO, the company billionaire Brad Jacobs is seeking to
launch into building services, had offered around $9.4 billion
to acquire Rexel  RXL.PA , which the French company rebuffed in
September. 
    

 (Reporting by Anirban Sen in New York and Kannaki Deka in
Bengaluru; Editing by Arun Koyyur)
 ((Kannaki.Deka@thomsonreuters.com;))