Baird downgraded Beacon Roofing Supply (BECN) to Neutral from Outperform with a $124 price target after QXO (QXO) announced an agreement to acquire Beacon for $124.35 per share in cash.
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Read More on BECN:
- M&A News: Brad Jacobs’ QXO Secures $11B Deal to Acquire Beacon Roofing After Months-Long Saga
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- QXO to acquire Beacon for $124.35 per share in cash, or $11B
- QXO extends tender offer to acquire Beacon Roofing Supply
- Buy Rating Affirmed Amid Potential Beacon Roofing Supply Acquisition by QXO