09:34 AM EST, 02/06/2025 (MT Newswires) -- Beacon Roofing Supply ( BECN ) said Thursday its board has recommended that shareholders do not tender their shares in the unsolicited tender offer from QXO (QXO) to buy all shares of Beacon for $124.25 a share in cash.

The offer "significantly undervalues the company and its prospects for growth and value creation," Beacon's board said.

"The offer is an opportunistic attempt by QXO to buy the company at a discount to its intrinsic value for the benefit of QXO and not the company's shareholders," Beacon said.

QXO didn't immediately respond to a request for comment by MT Newswires.

Beacon shares were 0.7% higher in recent trading, while QXO was up 1.3%.