09:31 AM EST, 01/27/2025 (MT Newswires) -- Beacon Roofing Supply ( BECN ) confirmed on Monday that QXO (QXO) had started an unsolicited cash tender offer to acquire all of Beacon's outstanding shares for $124.25 each.

Beacon said its board "will thoroughly" evaluate QXO's tender offer.

Beacon also said on Monday that it had previously rejected an offer from QXO in November for the same offering price, which it said significantly undervalued the company.

Shares of Beacon were up more than 1% in recent trading.

Price: 119.68, Change: +1.26, Percent Change: +1.06