BUZZ-QXO takes $11 billion takeover offer to Beacon Roofing shareholders; shares down

** Shares of QXO QXO.N down 4% at $13.19, while Beacon Roofing Supply BECN.O up 1.4% at $120.10

** QXO QXO.N takes its $11 billion takeover offer to BECN's shareholders after the building-products distributor rebuffed its overtures

** Earlier this month, Beacon had rejected QXO's $11 billion takeover offer, citing the proposal "significantly undervalues" the company

** QXO, a new player in the building products distribution industry, says it intends to pursue all options to complete a transaction

** BECN has a market capitalization of $7.33 billion, according to data compiled by LSEG

** Including session's move, BECN up ~18% YTD, adding to 16.7% gains last year

** QXO shares fell about 86% in 2024, down ~14.4% YTD, including session's move