Beacon Roofing Supply Stock Soars as Firm Discusses $11B Purchase by QXO | Global News Avenue

Shares of Standard Roofing Supply Shares (Baker) Soared about 7% in A Market sell On Monday, the company is in discussions with technology solutions company QXO (✔) Acquisition for $11 billion.

The deal will involve QXO buying beacons at $124.35 per share cash. Herndon, Virginia-based beacon that will postpone its Investor Day scheduled for Thursday, which has previously refused get Shares fell nearly 2% on Monday afternoon, according to efforts from Greenwich, Connecticut-based QXO.

“QXO is getting used to it due diligence Regarding the beacon business, QXO and Beacon are negotiating the agreement that was established,” the companies announced, adding: “There is no guarantee that these discussions will lead to transactions. ”

Beacon shares have risen nearly 40% over the past 12 months, recently trading at a Monday earning of $118.73, below the QXO’s quote price.