QXO offers to buy Beacon Roofing for $124.25 per share (updated)

Beacon Roofing Supply

15/01/2025 13:46

(Adds shares, premium and background paragraph 2 onwards)
       Jan 15 (Reuters) - 
    Building products distributor QXO  QXO.O  on Wednesday made
public an offer to buy Beacon Roofing Supply  BECN.O  for
$124.25 per share in cash.
    Shares of QXO were down about 1% in premarket trading.
    QXO's offer represents a premium of 14.1% to Beacon's
Tuesday close.
    The deal came roughly two months after Reuters reported that
QXO had made an offer to buy Beacon. 
    The transaction, expected to strengthen QXO's position in
the building products industry, marks its first major takeover
since CEO Brad Jacobs began seeking to buy companies in the
sector.

 (Reporting by Anshuman Tripathy in Bengaluru; Editing by Shilpi
Majumdar and Tasim Zahid)
 ((Anshuman.Tripathy@thomsonreuters.com;))