QXO, Inc. announced an extension of its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. for $124.25 per share. The offer, originally set to expire on February 24, 2025, will now remain open until March 3, 2025. As of February 24, approximately 10,685,631 shares, representing about 17.27% of outstanding shares, had been tendered.
QXO confirmed it has secured full financing commitments from major financial institutions, including Goldman Sachs, Morgan Stanley, Citi, Crédit Agricole, Wells Fargo, and Mizuho. The company reiterated that the transaction is not dependent on any financing or due diligence conditions and has already obtained antitrust clearance in both the U.S. and Canada. Chairman and CEO Brad Jacobs stated that the offer remains the only opportunity for Beacon shareholders to secure a substantial cash premium now.
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