QXO and Beacon Roofing Supply, Inc. announced on Thursday that they have entered into a definitive merger agreement under which QXO will acquire Beacon for $124.35 per share in cash.
"The boards of directors of both companies have unanimously approved the transaction, which values Beacon at approximately $11 billion, including all its outstanding debt," the statement showed.
The transaction is expected to close by the end of April, subject to a majority of Beacon shares tendering in the offer and other customary closing conditions. Beacon's board unanimously recommends that all shareholders tender their shares into the offer.
