Building-products distributor QXO is making a hostile bid for rival company Beacon Roofing Supply. Instead of going through shareholders as originally planned, the move comes after previous attempts at negotiations failed.
QXO's CEO Brad Jacobs will personally present its offer to all stakeholders. The proposal includes an all-cash deal worth $5.47 billion and has been designed specifically for shareholders rather than going through intermediaries or other parties.
This unusual step could be attributed to QXO's frustration with being rebuffed multiple times by Beacon during initial negotiations. A hostile takeover is now expected after failing in past attempts to reach a mutually beneficial agreement.
QXO's CEO Brad Jacobs will personally present its offer to all stakeholders. The proposal includes an all-cash deal worth $5.47 billion and has been designed specifically for shareholders rather than going through intermediaries or other parties.
This unusual step could be attributed to QXO's frustration with being rebuffed multiple times by Beacon during initial negotiations. A hostile takeover is now expected after failing in past attempts to reach a mutually beneficial agreement.