QXO proposes to acquire Beacon Roofing Supply for $124.25 per share in cash

QXO (QXO) has made public a proposal to the Board of Directors of Beacon Roofing Supply (BECN) to acquire all outstanding shares of Beacon for $124.25 per share in cash. The proposal implies a total transaction value of approximately $11B and a 37% premium above Beacon’s 90-day unaffected volume-weighted average price of $91.02. “Our all-cash offer provides compelling value. We believe Beacon shareholders have a right to evaluate our proposal, despite the attempt by Beacon’s Board of Directors to withhold it from them,” said Brad Jacobs, CEO.