QXO Commences Tender Offer To Acquire Beacon; Transaction Enterprise Value At Approx. $11 Bln

(RTTNews) - QXO, Inc. (QXO) said it is commencing an all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply (BECN) for $124.25 per share. The total transaction enterprise value is approximately $11 billion. QXO plans to complete the acquisition quickly after the tender offer expires in 20 business days. QXO reiterated that it intends to pursue all options to complete a transaction, including nominating directors for election at Beacons Annual Meeting.

Brad Jacobs, chairman and chief executive officer of QXO, said: "Our compelling offer would get cash into the hands of Beacon shareholders immediately at a significant premium to the unaffected share price."