06:35 AM EDT, 03/20/2025 (MT Newswires) -- QXO (QXO) has agreed to acquire Beacon Roofing Supply ( BECN ) for $124.35 per share in cash, in a deal valuing Beacon at roughly $11 billion.

QXO has extended its cash tender offer for Beacon shares through March 31 and withdrawn its nomination of 10 independent director candidates for election at Beacon's 2025 annual shareholder meeting.

The companies expect the deal to close by the end of April, subject to a majority of Beacon shares tendering in the offer and other conditions.

Shares of QXO were up 9.7% in recent premarket activity, while Beacon rose 1.9%.