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 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 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.
QXO's takeover bid for Beacon Roofing faces rejection
GREENWICH, Conn. - QXO, Inc. (NYSE: QXO), a provider of technology solutions primarily for the manufacturing, distribution, and service sectors, with a market capitalization of $5.7 billion and a strong financial health rating according to InvestingPro,
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.
Beacon Roofing CEO describes dealings with QXO as takeover bid heats up
Beacon Roofing CEO Julian Francis described communications with a building products distributor looking to acquire his company.
Beacon Adopts Shareholder Rights Deal to Hold Off QXO
As expected, QXO responded immediately following Beacon’s rights agreement announcement, calling the move “shareholder unfriendly” and a “poison pill” aimed at blocking QXO’s all-cash offer, which is set to expire at the end of Feb. 24..
Beacon Roofing Solicits Bids to Fend Off Brad Jacobs' QXO
Beacon Roofing Supply has started soliciting interest from potential buyers as it looks to fend off an $11 billion takeover bid from rival QXO Inc., people familiar with the matter said.
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 Commences $11B Takeover Bid for Beacon
Meanwhile, QXO maintains that its offer of $124.25 per share is 17% higher than the Beacon stock has ever traded; represents a 37% premium over the 90-day unaffected stock price; and represents a 26% premium to the stock the day before the Wall Street Journal’s Nov. 18 report that QXO was pursuing a deal.
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 ...
Reuters11d
QXO goes hostile in $11 billion takeover offer to Beacon Roofing
RBC Capital Markets analyst Michael Dahl said shareholders seem supportive of a takeover for the proposed ... Dahl says, Beacon and QXO are more likely than not to reach a deal.