Building products distributor QXO offers to buy Beacon Roofing Supply - source
Building products distributor QXO has proposed to acquire Beacon Roofing Supply, with shares of Beacon rising 10% in response. If negotiations succeed, a deal may be finalized soon, though the offer's terms remain undisclosed. QXO, led by billionaire Brad Jacobs, previously attempted to acquire Rexel but was rejected.
Nov 18 (Reuters) - Building products distributor QXO (QXO.O) has made an offer to acquire Beacon Roofing Supply (BECN.O) , according to a person familiar with the matter.
Shares of Beacon Roofing Supply rose 10% to $108.5 in afternoon trading. Beacon and QXO did not immediately respond to Reuters requests for comment.
If the talks are successful, a deal could be signed in the coming weeks. The terms of the offer being discussed is not yet known.
QXO, the company billionaire Brad Jacobs is seeking to launch into building services, had offered around $9.4 billion to acquire Rexel (RXL.PA) , which the French company rebuffed in September.
