QXO takes $11 billion takeover offer to Beacon Roofing shareholders; shares down

Beacon Roofing Supply

27/01/2025 15:19

** Shares of QXO  QXO.N  down 4% at $13.19, while Beacon
Roofing Supply  BECN.O  up 1.4% at $120.10
    ** QXO  QXO.N  takes its $11 billion takeover offer to
BECN's shareholders after the building-products distributor
rebuffed its overtures
    ** Earlier this month, Beacon had rejected QXO's $11 billion
takeover offer, citing the proposal "significantly undervalues"
the company
    ** QXO, a new player in the building products distribution
industry, says it intends to pursue all options to complete a
transaction
    ** BECN has a market capitalization of $7.33 billion,
according to data compiled by LSEG
    ** Including session's move, BECN up ~18% YTD, adding to
16.7% gains last year
    ** QXO shares fell about 86% in 2024, down ~14.4% YTD,
including session's move

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