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Building-Products Distributor QXO Prepares to Nominate Directors Over Beacon Deal
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QXO a new player in building-products distribution, is turning up the heat in its efforts to acquire Beacon Roofing Supply. QXO published a letter Wednesday detailing its cash offer of $124.25 per share, which it says Beacon has refused to “substantially engage” on. The Wall Street Journal reported in mid-November that QXO had privately made an offer to acquire Beacon, which is the largest publicly traded distributor of roofing materials and complementary building products in the U.S. and Canada.
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