QXO, Beacon confirm discussions about potential combination

QXO (QXO) and Beacon Roofing Supply (BECN) confirmed that they are in discussions about a potential combination in which QXO would acquire Beacon for $124.35 per share in cash, or total consideration of approximately $11B. QXO is engaging in customary due diligence regarding Beacon’s business, and QXO and Beacon are negotiating a definitive agreement. Beacon is postponing its Investor Day, which had been scheduled for March 13. There can be no assurance that these discussions will result in a transaction.