Billionaire Jacobs Said to Near $3.5 Billion QXO Equity Offering

QXO Inc, the building products distribution company led by billionaire Brad Jacobs, is close to announcing an equity raise of about $3.5 billion, according to people familiar with the matter.

The firm will agree to a private placement as soon as this week, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The deal, if completed, would be both the largest equity offering ever in the building products sector and private investment in public equity for industrials, according to data compiled by Bloomberg.

A representative for QXO declined to comment. ...