Beacon Roofing Supply, Inc. (BECN), Tuesday announced the adoption of a limited duration stockholder rights agreement following QXO, Inc.'s (QXO) tender offer to acquire the company for $124.25 per share in cash.
The agreement intends to protect shareholders of Beacon from anyone seeking to gain control of the company without paying all stockholders an appropriate control premium.
In line with the plan, the company will issue, by means of a dividend, one preferred share purchase right for each of its outstanding share to stockholders of record as of the close of business on February 7.
The company noted that QXO's recent offer remains unchanged from its previous offer, which was rejected by the board for undervaluing the company and not being in the interests of its stakeholders.
Currently, Beacon's stock is trading at $120.07, up 0.43 percent on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.