Building products distributor QXO launching hostile bid for Beacon — report
27 Jan 2025, 10:44 am
main news image

(Jan 27): Building products distributor QXO is preparing to take its all-cash offer to acquire Beacon Roofing Supply directly to shareholders after being rejected on several occasions, the Wall Street Journal reported on Sunday.

QXO is planning to launch a hostile bid as soon as Monday, offering to buy all shares outstanding of Beacon for US$124.25 per share, the same price it previously proposed, the report said, citing people familiar with the matter.

The deal would value Beacon at US$7.7 billion (RM33.7 billion) — roughly US$11 billion including debt, according to the report.

QXO and Beacon Roofing Supply did not immediately respond to Reuters' request for comments.

QXO, which counts President Donald Trump's son-in-law Jared Kushner as a board member, is looking to enter the massive but fragmented building products distribution industry.

Beacon, with a market value of US$7.33 billion, is the largest publicly traded distributor of roofing materials and complementary building products in the US and Canada, according to its website.

Uploaded by Magessan Varatharaja

Print
Text Size
Share