QXO Launches $11 Billion Tender Offer to Acquire Beacon Roofing Supply for $124.25 Per Share in Cash
QXO intends to complete the acquisition quickly after the tender offer expires in 20 business days, subject to the terms of the offer. The proposed transaction is not subject to any contingencies related to financing or due diligence.
QXO Initiates $11 Billion Cash Offer to Acquire Beacon Roofing Supply
From Goldman Sachs, Morgan Stanley, Citi, Credit Agricole, Wells Fargo, and Mizuho, among other big financial institutions, QXO has obtained complete finance commitments. These pledges plus QXO's current cash will pay for the whole acquisition price, any required debt refinancing for Beacon, and associated transaction expenses.
Beacon Roofing Supply (BECN) rose 1.7% as it seeks interest from buyers to fend off an $11 billion offer from QXO Inc (QXO).
Stifel analysts maintained their Buy rating on Beacon Roofing Supply (NASDAQ:BECN) with a price target of $131.00. Trading at ...
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