Beacon Roofing Urges Shareholders to Reject Hostile QXO Bid
Beacon Roofing Supply Inc. has officially rejected a hostile takeover approach from QXO Inc., setting the stage for a potentially protracted battle for control of the building supplies provider.
Beacon Roofing Stock In Focus After Analyst Downgrade Following Rejection Of QXO Buyout Offer: Retail’s Divided
Shares of Beacon Roofing Supply ($BECN) rose about 1.29% on Friday even as the company received a downgrade from analyst firm Stifel, following another rejection of a $11 billion buyout offer from technology solutions company QXO Inc.
Beacon Roofing Rejects Hostile QXO Bid
Beacon Roofing Supply has officially rejected a hostile takeover approach from QXO, setting the stage for a potentially protracted battle for control of the building supplies provider.
Beacon Roofing asks shareholders to reject QXO's takeover offer
Beacon Roofing Supply said on Thursday its board had recommended shareholders reject QXO's tender offer to acquire all outstanding shares of the company for $124.25 per share in cash. Shares of Beacon were up about 1.
QXO urges Beacon to let investors decide on all cash offer of $124.25 per share
QXO, Inc. (QXO) issued the following statement in response to the announcement by Beacon Roofing Supply, Inc. (BECN) that its Board of
Beacon Seeks to Fend off QXO's Hostile Takeover With Poison Pill
(Reuters) - Beacon Roofing Supply said on Tuesday it has adopted a limited duration stockholder rights agreement, commonly known as a poison pill, following a hostile takeover bid by QXO.
QXO Initiates $11 Billion Cash Offer to Acquire Beacon Roofing Supply
From Goldman Sachs, Morgan Stanley, Citi, Credit Agricole, Wells Fargo, and Mizuho, among other big financial institutions, QXO has obtained complete finance commitments. These pledges plus QXO's current cash will pay for the whole acquisition price, any required debt refinancing for Beacon, and associated transaction expenses.
QXO commences $11B tender offer to buy Beacon Roofing Supply
QXO (NYSE:QXO) has commenced an $11B all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply (NASDAQ:BECN) for $124.25 a share. This price implies a 37% premium above Beacon’s 90-day unaffected volume-weighted average price of $91.
Beacon Roofing Supply (BECN) was downgraded to a Hold Rating at Stifel Nicolaus
Stifel Nicolaus analyst W. Andrew Carter downgraded Beacon Roofing Supply (BECN – Research Report) to a Hold yesterday and set a price target ...
Bloomberg L.P.11d
QXO Launches Hostile Takeover Bid for Beacon Roofing Supply
QXO Inc. has launched a hostile takeover bid for Beacon Roofing Supply Inc. after the board of the building products ...
QXO Comments on Beacon Roofing Supply’s Adoption of Shareholder-Unfriendly Poison Pill
Reaffirms Commitment to Acquiring Beacon for $124.25 per Share in Cash All-Cash Offer Provides Significant and Immediate ...