QXO Finalizes $11 Bln Beacon Acquisition
(RTTNews) - QXO, Inc. (QXO) Tuesday announced that it has successfully completed its acquisition of Beacon Roofing Supply, Inc. for $124.35 per share in a deal valued at approximately $11 billion.
With this move, QXO becomes the largest publicly traded distributor of roofing, waterproofing, and related building products in the U.S. The company will commemorate the milestone by ringing the Opening Bell at the NYSE.
Chairman and CEO Brad Jacobs stated that acquiring Beacon marks a pivotal advancement in QXO's strategy to dominate the $800 billion building products distribution market using a tech-driven approach. He emphasized the potential to drive growth, improve margins, and enhance customer service by integrating Beacon's team.
The tender offer expired on April 28, 2025, with 72.06% of Beacon's shares validly tendered. QXO has accepted and will pay for these shares, and has completed a second-step merger to acquire the remaining shares. Beacon shareholders who had not tendered are entitled to receive $124.35 in cash per share.
Beacon is now a wholly owned subsidiary of QXO, and its shares were delisted from the Nasdaq Global Select Market on April 29, 2025. QXO also closed an $830 million equity private placement in conjunction with the acquisition.
Tuesday, QXO closed at $13.23, down 1.42%, and is currently trading at $13.30 in after-hours, up 0.53% on the NYSE.
