- QXO (NYSE: QXO) has extended its tender offer to acquire Beacon Roofing Supply (Nasdaq: BECN) at $124.35 per share.
- Approximately 38.32% of Beacon's outstanding shares have already been tendered.
- The acquisition has received antitrust clearance in the U.S. and Canada.
QXO, Inc. (NYSE: QXO) announced the extension of its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (Nasdaq: BECN) at $124.35 per share. The tender offer will remain open until 5:00 p.m. (New York City time) on April 28, 2025. As of April 19, 2025, approximately 23,820,838 shares, or 38.32% of Beacon's outstanding shares, have been validly tendered.
This acquisition has already secured antitrust clearance from both the United States and Canada. Beacon's board of directors has unanimously recommended that shareholders tender their shares. The acquisition's completion is contingent upon a majority of Beacon shares being tendered, along with meeting customary closing conditions.
The proposed acquisition aims to position QXO as a leading figure in the $800 billion building products distribution industry. The company plans to achieve annual revenues of $50 billion in the next decade through strategic acquisitions and organic growth. Upon closing, QXO is set to become the second-largest distributor of roofing products in the United States.
