QXO Inc. (NYSE: QXO), Greenwich, Conn., is extending its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (Nasdaq: BECN) for $124.25 per share.
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The tender offer, which was scheduled to expire at 5 p.m. ET on March 3, 2025, will remain open until 5 p.m. on March 10, 2025. QXO is prepared to complete the acquisition shortly after the tender expires, subject to the terms of the offer. Learn more about the new extension.
Beacon again responded to QXO’s extended tender offer, saying that QXO’s move is “an opportunistic attempt to take advantage of the current macro environment and acquire Beacon at a discount to its intrinsic value for the benefit of QXO but the detriment of Beacon’s shareholders.”
It reported that 19.12% of shareholders have tendered their shares into QXO’s offer.
Beacon distributes specialty building products, including roofing materials and complementary products such as siding and waterproofing. The company operates over 580 branches throughout the U.S. and in seven provinces in Canada.
