1216 ET - Discussions between Beacon Roofing Supply and QXO signal a deal could be reached within weeks, Jefferies' Philip Ng says in a research note. The two companies earlier Monday said they're negotiating a definitive agreement in which QXO would pay $124.35 a share for the roofing and building products distributor. "We believe the increased macro uncertainty and shifting market sentiment in building products influenced Beacon's board to engage late last week," says Ng. The analyst expects Beacon's board to rescind its poison pill if an agreement is reached, making the path to clearing more than 50% shares through QXO's tender offer easier. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
March 10, 2025 12:16 ET (16:16 GMT)
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