March 4 (Reuters) - QXO said on Tuesday it had
extended the deadline of its tender offer to buy Beacon Roofing
Supply ( BECN ) by a week to March 10.
QXO, a new entrant in the building products distribution
industry that counts U.S. President Donald Trump's son-in-law
Jared Kushner as a board member, made a bid in January to buy
Beacon's outstanding shares for $124.25 per share.
Beacon rejected the offer saying it significantly
undervalued the company. But QXO CEO Brad Jacobs took the offer
directly to Beacon's shareholders in a hostile takeover attempt.
QXO's offer was set to expire on Monday, but will now remain
open until 5:00 p.m. ET on March 10.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by
Shinjini Ganguli)