QXO, Inc. commenced an all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. for $124.25 per share. This offer values Beacon at approximately $11 billion and represents a 37% premium to Beacon’s 90-day unaffected volume-weighted average price as of November 15, 2024. The tender offer is set to expire at midnight on February 24, 2025, and is not subject to any financing or due diligence conditions.
QXO stated its readiness to complete the acquisition shortly after the tender expires, pending regulatory approvals. Chairman and CEO Brad Jacobs emphasized that the offer provides significant and immediate cash value to Beacon shareholders. This direct approach to shareholders highlights QXO's determination to secure Beacon and advance its strategy in the building products distribution industry.
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