India, March 4 -- Beacon Roofing Supply Inc. (BECN) issued a statement regarding QXO Inc.'s (QXO) second extension of its unsolicited tender offer to acquire all outstanding shares of Beacon common stock for $124.25 per share in cash.
For the second time, QXO has extended an offer that Beacon views as an opportunistic attempt to exploit the current macro environment and acquire the company at a discount to its intrinsic value, benefiting QXO while disadvantaging Beacon's shareholders.
Beacon said it has consistently attempted to engage with QXO to demonstrate the additional value for which QXO's initial offer does not adequately compensate shareholders. Beacon has made proposals on standard terms and even offered to engage on buyer-friend...