05:46 AM EST, 02/11/2025 (MT Newswires) -- (Updated with Beacon's response in the fourth, fifth, and sixth paragraphs.)

QXO (QXO) on Monday continued its push to persuade Beacon Roofing Supply ( BECN ) shareholders to accept its $124.25-per-share buyout offer, arguing that Beacon's board is misrepresenting aspects of the deal and undervaluing the proposal.

Last week, Beacon's board reiterated its recommendation that shareholders reject QXO's bid, stating the offer "significantly undervalues the company and its prospects for growth and value creation."

QXO, which went public with its $11 billion all-cash offer on Jan. 15 before launching a formal tender offer nearly two weeks later, pushed back in an open letter to Beacon shareholders, saying, "QXO's offer is clear, compelling, and in shareholders' best interest. It is time for Beacon's Board to stop obstructing shareholders and let them decide their own financial future."

A Beacon spokesperson told MT Newswires the company has made multiple attempts to engage constructively with QXO to share its 2028 long-term targets to no avail.

"Instead, they have refused to engage, first stating that they were not interested in receiving any confidential information and later disparaging information they have not seen," the spokesperson said in an email statement to MT Newswires.

The company added it plans to share more details about its growth strategy and long-term targets with investors at its upcoming Investor Day.