Items Tagged with 'shareholder'

QXO’s $11B acquisition of Beacon aims to transform the roofing supply chain with AI, tech upgrades, and employee-driven insights — promising streamlined operations and growth. What’s next for contractors?

QXO has tentatively completed its $11 billion acquisition of Beacon, securing 580 branches across North America. The deal aims to modernize operations using AI for improved efficiency and is expected to close in April.

Beacon's board of directors has entered into preliminary discussions for QXO to acquire all outstanding Beacon shares at $124.35 per share following months of a hostile takeover threat.

QXO extended its tender offer for Beacon to March 3, citing shareholder interest, while Beacon's board rejects the bid as undervaluing the company; analysts debate its potential impact.

QXO further escalates its takeover bid for Beacon: In the latest, the pursuer proposes a new board slate following the rejection of its $11B offer. Shareholders now face a pivotal decision in the battle for control. 

Beacon's board submitted a unanimous recommendation to its shareholders to reject QXO's offer to acquire all outstanding shares at $124.25 per share in cash.

This is IHS’s fourth strategic acquisition since North Branch became the majority shareholder in September 2021.