Apollo to invest $1.2 billion in QXO; shares rise

QXO

05/01/2026 11:26

** Shares of building products distributor QXO QXO.N rise nearly 8.8% to about $21.5 premarket

** Apollo Global Management agrees to invest $1.2 billion to pursue acquisition opportunities through July 15, 2026 - QXO

** QXO issues perpetual convertible preferred stock with 4.75% annual dividend, convertible into common shares at $23.25 per share

** Average of 16 analysts rate the stock "buy" or higher, their median PT is $30, according to data compiled by LSEG

** As of last close, shares up 2.2% YTD

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)

 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))