1510 ET - Beacon Roofing Supply may not have had the upper hand the company thought it had when it came to negotiating a deal with QXO, Raymond James analyst Sam Darkatsh says in a research note. "Despite Beacon's Board's prior and repeated assertions that QXO's $124.25 previous offer 'significantly undervalued' the equity, the paltry (read: "face saving") $0.10 increase in per share deal value suggests that the Board increasingly found its bargaining position vs QXO to be weak," he writes. Beacon's weak positioning may have stemmed from its soft 4Q, disappointing 1Q outlook or growing conflict among its board, Darkatsh adds. Beacon shares rise 6.9% and QXO shares slip 1.9% after the companies say they have launched discussions about a potential combination. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 15:10 ET (19:10 GMT)
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