QXO Launches $11 Billion Tender Offer to Acquire Beacon Roofing Supply for $124.25 Per Share in Cash

Core Viewpoint - QXO, Inc. is initiating an all-cash tender offer to acquire Beacon Roofing Supply, Inc. at a price of $124.25 per share, representing a 37% premium over Beacon's 90-day unaffected average price of $91.02, with a total enterprise value of approximately $11 billion [1][2]. Group 1: Acquisition Details - The tender offer will last for 20 business days and is expected to be completed quickly after its expiration, with no contingencies related to financing or due diligence [2]. - QXO has secured full financing commitments from major financial institutions, ensuring sufficient funds to cover the purchase price, refinancing of Beacon's debt, and associated transaction costs [4]. Group 2: Strategic Intent - QXO's CEO, Brad Jacobs, emphasized that the acquisition would provide immediate cash to Beacon shareholders at a significant premium and believes that Beacon aligns well with QXO's strategy to lead in building products distribution [3]. - QXO plans to pursue all options to finalize the transaction, including nominating directors for election at Beacon's Annual Meeting [3]. Group 3: Company Background - QXO specializes in technology solutions for manufacturing, distribution, and service sectors, aiming to become a tech-forward leader in the $800 billion building products distribution industry, targeting significant revenue growth through acquisitions and organic growth [6].