In a dramatic takeover saga that kept Wall Street on edge, QXO Inc. has struck a deal to acquire Beacon Roofing Supply Inc. for $11 billion in cash, marking the end of a heated corporate standoff. The agreement, announced Thursday, follows Beacon’s initial rejection of QXO’s buyout proposal and an aggressive battle for control, including QXO’s prior move to replace Beacon’s board.
The Deal That Sealed the Future
Under the terms of the deal, QXO will pay $124.35 per share in cash, a valuation that includes Beacon’s outstanding debt. The transaction, unanimously approved by both boards, is slated to close by the end of April, pending regulatory approvals and a majority of Beacon’s shareholders tendering their shares.
“Acquiring Beacon is a key milestone in our plan to create substantial shareholder value and establish QXO as a leader in the $800 billion building products distribution industry,” said Brad Jacobs, QXO’s chairman and CEO. “We will be applying our proven playbook to a platform ripe to deliver above-market organic growth and significant margin expansion.”
