Investing.com– CONSTRUCTION CONSTRUCTION PRODUCTS QXO INC (NYSE 🙂 plans to launch a hostile offer for Beacon roof Supply Inc (Nasdaq 🙂 by directly addressing shareholders, Wall Street Journal reported on Sunday.
The enemy’s offer could be launched on Monday and will offer $ 124.25 to shareholders in the share-the same price offered by QXO earlier, the WSJ report states, inviting people to get acquainted with this issue. The offer is estimated at about $ 7.7 billion – which is more than Beacon to close $ 118.42 on Friday, which estimated the company at about $ 7.3 billion.
This move comes after Beacon has repeatedly rejected QXO for a potential takeover. QXO initially gave a bid for Beacon in November 2024, which Beacon refused to underestimate the company.
Beacon is the largest publicly included distributor of roofing materials and has the potential to supplement the business of QXO. QXO recently said he had secured a job for a job and that his offer was convincing for the Beacon shareholders.
