Zelman downgraded Beacon (BECN) to Neutral from Outperform after the company confirmed that it previously received and rejected an unsolicited, non-binding proposal from QXO (QXO).
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Read More on BECN:
- Beacon confirms receipt, reiterates rejection of unsolicited QXO proposal
- Big banks report Q4 beats, QXO proposes to buy Beacon: Morning Buzz
- QXO proposes to acquire Beacon Roofing Supply for $124.25 per share in cash
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