Items Tagged with 'stockholders'

QXO has potentially secured an additional $830M in private funding, boosting cash reserves to $6B for its $11B bid to acquire Beacon; the company aims to modernize the $800 billion building-product distribution sector through AI.

QXO extended its $124.25 per share tender offer for Beacon to March 10, citing strong momentum despite board resistance, rising commitments, and full financing secured.

Beacon's board submitted a unanimous recommendation to its shareholders to reject QXO's offer to acquire all outstanding shares at $124.25 per share in cash.

QXO, Inc.'s $11B offer to acquire Beacon was rejected as “undervalued.” The high-stakes bid could reshape the building materials sector with a looming proxy fight possible. Who will prevail in this corporate chess match?

QXO, Inc. publicly offered to acquire Beacon for $124.25 per share in cash, valuing the deal at $11 billion — 37% above Beacon’s 90-day average price — and is seeking shareholder consideration.

The potential QXO acquisition of Beacon Roofing Supply could transform the roofing materials market, leveraging undervaluation, AI, and operational synergies to drive growth.

Goldman Sachs increased its Beacon Roofing Supply shares by 11.6% in Q4, owning 602,287 shares worth $52.4M. Despite a "hold" rating from StockNews.com, other investors and analysts remain confident.

Beacon impressed analysts with better-than-expected Q4 2023 results, boasting record net sales, adjusted earnings per share, and strong growth.

Owens Corning secured its spot on the Dow Jones Sustainability World Index for the 14th consecutive year, also on the DJSI North America Index for the sixth year.

Beacon officials announced a private offering of $500 million in secured notes payable in 2030 to support their stock buyback plan for repurchasing 400,000 Class A Preferred Stock shares.