BUZZ-Beacon Roofing rises after QXO offers to buy the specialty building product distributor

Shares of Beacon Roofing Supply BECN.O up 10.2% at $120, premarket

Building products distributor QXO QXO.O proposes to acquire Beacon for $124.25 per share in cash

Proposal implies a total transaction value of ~$11 bln

BECN has a market capitalization of $6.74 billion, according to data compiled by LSEG

Shares of QXO down 1% at $15.59 in premarket trading

BECN up ~7.2% YTD, adding to 16.7% gains last year

QXO shares fell about 86% in 2024, down ~3.3% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))