QXO goes hostile in bid to buy Beacon Roofing (updated)

Beacon Roofing Supply

27/01/2025 12:22

(Adds background and details on offer in paragraphs 2-3)
       Jan 27 (Reuters) - QXO  QXO.N  on Monday took its
all-cash $124.25 per share takeover offer to Beacon Roofing
Supply's  BECN.O  shareholders after the building-products
distributor rebuffed its overtures.
    The development comes after Beacon earlier this month
rejected a $11 billion takeover offer from QXO saying its
proposal "significantly undervalues" the company.
    QXO said on Monday it intends to complete the acquisition
quickly after the tender offer expires in 20 business days,
subject to the terms of the offer.
    Beacon Roofing did not immediately respond to a request for
comment.

 (Reporting by Anshuman Tripathy in Bengaluru; Editing by
Shounak Dasgupta)
 ((Anshuman.Tripathy@thomsonreuters.com))