QXO Is Raising Another $1.8 Billion for Its M&A War Chest

Building-supplies company QXO could be moving closer to making another big acquisition. The firm, led by serial entrepreneur Brad Jacobs, announced Monday that it is raising an additional $1.8 billion in financing for possible takeover offers. That comes on the heels of a $1.2 billion investment in QXO's convertible preferred stock led by Apollo Global Management last week. The new round was led by Apollo and Temasek, the sovereign wealth fund of Singapore. ...