• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

QXO planning to launch hostile bid for Beacon Roofing- WSJ

by January 27, 2025
written by January 27, 2025

Investing.com–  Building products distributor QXO Inc (NYSE:QXO) is planning to launch a hostile bid for Beacon Roofing Supply Inc (NASDAQ:BECN) by approaching shareholders directly, the Wall Street Journal reported on Sunday.

The hostile bid could be launched by as soon as Monday and will offer Beacon shareholders $124.25 per share- the same price QXO had previously offered, the WSJ report said, citing people familiar with the matter. The offer values Beacon at about $7.7 billion- higher than Beacon’s close of $118.42 on Friday, which valued the firm at around $7.3 billion. 

The move comes after QXO was rebuffed repeatedly by Beacon over a potential takeover. QXO had initially bid for Beacon in November 2024, which Beacon rejected for undervaluing the firm. 

Beacon is the largest publicly listed distributor of roofing materials, and has the potential to complement QXO’s business. QXO recently said it had secured funding for the deal, and that its offer was compelling for Beacon shareholders. 

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Nvidia shares spooked as China’s DeepSeek raises questions over AI capex
next post
Ancora seeks US Steel to abandon Nippon Steel deal, overhaul leadership – WSJ

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • China has ample fiscal space to bolster growth this year
    • Guatemala open to receiving Central American deportees from US

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy