Beacon Roofing Supply (BECN): $118.34
Market Cap: $7.32 B
Deal Value: $11 B
Last November, the Wall Street Journal reported that QXO (QXO), a technology company with a focus on building-products, had offered to acquire Beacon Roofing Supply (BECN). But no details were revealed at the time.
This month, however, the details of the deal emerged, leading to a hostile tender offer—and a swift poison pill response from Beacon.
Billionaire Brad Jacobs, CEO of QXO, took his $11 billion takeover offer for Beacon Roofing directly to shareholders after North America's largest publicly traded distributor of roofing materials repeatedly rebuffed him.
Jacobs had approached Beacon’s leadership on 15 different occasions last year, all of which were either ignored or rejected before the proposal was made public in mid-January.
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