QXO (QXO) said Tuesday it has completed the acquisition of Beacon Roofing Supply (BECN) at a price of $124.35 per share, bringing the total deal value to around $11 billion.
QXO said it completed its tender offer for Beacon Roofing Supply by acquiring over 72% of shares and finalized the acquisition through a second-step merger, with all remaining shareholders to receive $124.35 per share in cash.
With completion of the acquisition, QXO has also finalized its earlier announced $830 million private equity placement, the company said. Beacon is now a wholly owned subsidary of QXO, and its shares ceased trading on the Nasdaq Global Select Market before the market's open Tuesday.
Shares of QXO were down nearly 1.3% in recent Tuesday trading.
Price: 13.25, Change: -0.17, Percent Change: -1.27
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