QXO, Inc. and Beacon Roofing Supply, Inc. announced they have entered into a definitive merger agreement for QXO to acquire Beacon for $124.35 per share in cash. The transaction, unanimously approved by both boards, values Beacon at approximately $11 billion, including all outstanding debt. This acquisition is a key milestone in QXO's strategy to become a leader in the $800 billion building products distribution industry.
The transaction is expected to close by the end of April, subject to a majority of Beacon shares tendering in the offer and other customary closing conditions. Beacon's board now unanimously recommends shareholders tender their shares, and Beacon has exempted the tender offer from its previously adopted shareholder rights plan. QXO has withdrawn its director nominations and confirmed it has $5 billion in cash and secured financing commitments for the full purchase price, including debt refinancing and transaction costs. This definitive agreement provides a clear path for QXO to significantly expand its market presence.
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