QXO extends deadline for tender offer to buy Beacon Roofing

Reuters

03-04

QXO extends deadline for tender offer to buy Beacon Roofing

March 4 (Reuters) - QXO QXO.N said on Tuesday it had extended the deadline of its tender offer to buy Beacon Roofing Supply BECN.O by a week to March 10.

QXO, a new entrant in the building products distribution industry that counts U.S. President Donald Trump's son-in-law Jared Kushner as a board member, made a bid in January to buy Beacon's outstanding shares for $124.25 per share.

Beacon rejected the offer saying it significantly undervalued the company. But QXO CEO Brad Jacobs took the offer directly to Beacon's shareholders in a hostile takeover attempt.

QXO's offer was set to expire on Monday, but will now remain open until 5:00 p.m. ET on March 10.

(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shinjini Ganguli)

((Anshuman.Tripathy@thomsonreuters.com;))

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