On April 1, QXO extended its all-cash tender offer to acquire the outstanding Beacon Roofing Supply shares and amended the terms of the offer to reflect the previously announced definitive merger agreement between the two companies.
The tender offer will remain open until April 14 at 5:00 p.m. ET.
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Beacon’s board unanimously recommended that all shareholders tender their shares into the offer. In support of the amended offer, Beacon also updated its recommendation statement on Schedule 14D-9.
The transaction is expected to close at or near the end of April, subject to a majority of Beacon shares being tendered. The acquisition already received antitrust clearance in the U.S. and Canada.
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QXO is paying $124.35 per Beacon share, which represents a 10.8X multiple of Beacon’s consensus full-year 2025 EBITDA and a 10.1X multiple of its consensus full-year 2026 EBITDA.
As of March 31, approximately 26,359,566 shares have been validly tendered and not withdrawn, representing 42.66% of the issued and outstanding shares. Prior to this, QXO’s most recent update regarding the shares that have been tendered was on March 20, in which the company reported approximately 12,174,965 shares had been validly tendered and not withdrawn, representing 19.71% of the issued and outstanding shares. Shareholders who have already tendered their shares do not need to take further action.
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