Beacon Roofing Supply, Inc. (NASDAQ:BECN) stock is trading higher on Monday. The company announced QXO, Inc. (NYSE:QXO) may potentially acquire it for $124.35 per share in cash or a total consideration of approximately $11 billion.

QXO is conducting customary due diligence regarding Beacon’s business and negotiating a definitive agreement with Beacon.

In January, QXO revealed its intention to make an all-cash tender offer for Beacon Roofing Supply, with a total value estimated at around $11 billion.

Notably, Beacon has postponed its Investor Day, which was originally set for March 13, 2025.

In a separate release, Beacon disclosed a strategic investment and partnership with Renovate Robotics for an undisclosed amount.

Renovate Robotics is developing autonomous roofing robots to enhance safety and productivity for contractors.

Their first robot, Rufus, installs asphalt shingles on residential roofs and will launch with contractors in New Jersey and Pennsylvania later this year.

Julian Francis, Beacon’s President and CEO, said, “Renovate Robotics’ mission perfectly aligns with Beacon’s focus on safety and efficiency, and we look forward to incorporating their advanced robotic technology across our network to better serve our contractor customers.”

Investors can gain exposure to the BECN via First Trust Dorsey Wright Momentum & Value ETF (NASDAQ:DVLU) and JPMorgan Fundamental Data Science Small Core ETF (NASDAQ:SCDS).

Price Action: BECN shares are up 7.7% at $119.66 at the last check Monday.

Read Next:

• FuelCell Energy, Diversified Energy, TESIAC Join Forces To Meet Growing AI Power Demands

Image via Shutterstock.

UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.

Get the latest stock analysis from Benzinga?

• BEACON ROOFING SUPPLY (BECN): Free Stock Analysis Report

This article Why Is Beacon Roofing Supply Stock Surging Today? originally appeared on Benzinga.com

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.