Beacon acknowledged the tender offer and recommended that shareholders take no action at this time.
Latest In QXO
The letter shares full details of QXO's offer and claims Beacon has intentionally taken actions to "frustrate a transaction." Beacon responds.
QXO said it plans to transfer its stock listing, aiming to create a tech-forward leader in the building products distribution industry.
Beacon reported 2023 revenue of $9.3 billion, and its share price is up 14% year-to-date.
The new executive will build the company’s AI function, which will impact route optimization, robotics and automation.
QXO's bid for Rexel, a top electrical distributor in North America, was rejected as undervaluing the company’s potential.
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QXO's latest private placement funding includes $150 million from Jared Kushner’s Affinity Partners.
Investors of the new publicly-traded building materials distributor QXO include long-time XPO shareholders.
