Beacon Roofing Supply's Board of Directors formally recommended that shareholders not tender their shares into QXO's unsolicited offer of $124.25 per share. The Board unanimously determined that QXO's unchanged offer price significantly undervalues the company and its prospects for growth and value creation. Beacon's financial advisors issued formal inadequacy opinions supporting the Board's recommendation.
The Board emphasized its confidence in Beacon's standalone plan, citing a track record of delivering superior results and over 200% total shareholder returns over the past five years. Beacon plans to share more on its future growth plans and 2028 long-term financial targets at an upcoming Investor Day on March 13, 2025. This rejection indicates Beacon's continued resistance to QXO's takeover attempt.
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