Historic Merger Agreement Reached

In a landmark deal, QXO and Beacon Roofing Supply, Inc. have announced a definitive merger agreement. QXO is set to acquire Beacon for an impressive $124.35 per share in cash. This strategic move values Beacon at approximately $11 billion, inclusive of all its outstanding debt.

Unanimous Approval and Recommendations

The boards of directors from both companies have unanimously approved the transaction. Beacon's board is strongly recommending that all shareholders tender their shares into the offer, signaling a high level of confidence in the merger's success.

Expected Closure and Conditions

The transaction is anticipated to close by the end of April, contingent upon a majority of Beacon shares being tendered in the offer and the fulfillment of other customary closing conditions. This acquisition marks a significant milestone in the roofing supply industry, promising to reshape the competitive landscape.