QXO drops on planned $500 mln stock sale for Beacon Roofing deal
ReutersApr 16, 2025 9:48 PM
Shares of building-products distributor QXO QXO.N down 6.5% in post-market trading to $13.33 after acquisition-related equity offering news
Greenwich, Connecticut-based QXO announces $500 mln proposed stock offering to partially finance pending buy of Beacon Roofing Supply BECN.O
BECN agreed to the $11 bln buyout deal from billionaire Brad Jacobs' firm last month
With ~409.4 mln shares outstanding, QXO has ~$5.8 bln market cap
Morgan Stanley and Goldman Sachs are jt bookrunners for the offering
QXO shares on Weds closed down 1.8% at $14.26, off 10% YTD
Shares of BECN inched down 4 cents to $123.09 on Weds. The Herndon, Virginia-based firm's stock is up 21% in 2025
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