QXO's Beacon acquisition is official
QXO, Inc. has officially completed its acquisition of Beacon Roofing Supply, Inc., for $124.35 per share, valuing the transaction at approximately $11 billion. The deal, according to QXO, makes it the largest publicly traded distributor of roofing, waterproofing and complementary building products in the U.S.
All of Beacon's more than 530 locations, along with its trucks and equipment, will shift to QXO branding "as quickly as possible," according to the company.
To mark the occasion, a QXO contingent will ring the Opening Bell at the New York Stock Exchange Wednesday, April 30. According to QXO spokesman Joe Checkler, this will be CEO Brad Jacobs' tenth time ringing the NYSE bell.
“Acquiring Beacon is a major step forward in our strategy to make QXO the leading tech-enabled company in the $800 billion building products distribution industry,” said Jacobs. “We’re excited to welcome Beacon’s talented team and, together, apply our proven playbook to accelerate growth, expand margins, and create an unmatched customer experience.”
Completion of tender offer and subsequent merger
The tender offer for all the outstanding shares of Beacon common stock expired at 5:00 p.m. (New York City time) on April 28, 2025. Computershare Trust Company, N.A., the depositary and paying agent for the tender offer, has reported that 44,835,447 shares have been tendered and not withdrawn, representing approximately 72.06 percent of the issued and outstanding shares. All of the conditions to complete the tender offer have been satisfied, according to QXO.
On April 29, 2025, QXO says it accepted for payment, and will promptly pay for, all shares validly tendered pursuant to the tender offer and not properly withdrawn. After completing the tender offer, QXO acquired the remaining outstanding Beacon shares through a second-step merger. Beacon shareholders who had not already tendered their shares are entitled to receive $124.35 per share in cash for each share of Beacon common stock owned.
With the acquisition complete, Beacon is now a wholly owned subsidiary of QXO, and its shares ceased trading on the Nasdaq Global Select Market before the opening of the market on April 29, 2025.
In conjunction with the acquisition's completion, QXO has also closed its previously announced $830 million equity private placement.
