QXO Agrees to Acquire Beacon Roofing Supply in $11 Billion Deal

QXO Inc. has agreed to acquire Beacon Roofing Supply Inc. in a deal that values the distributor of roofing, waterproofing and exterior products at about $11 billion including debt.

The agreement ends months of back-and-forth between the companies and avoids a full-blown hostile takeover battle.

QXO will pay $124.35 per share in cash for Herndon, Virginia-based Beacon after a previous offer of $124.25 was rebuffed. The price represents about a 26% premium to Beacon’s closing price on Nov. 15, the last trading day before news of takeover interest first emerged.

The boards of directors of both companies have unanimously ...