QXO Boosts Financing Deal to $3 Billion to Pursue M&A (3)

QXO Inc. is raising another $1.8 billion from investors including Apollo Global Management Inc. and Temasek Holdings Pte, comfortably more than doubling the $1.2 billion financing deal it announced last week.

The money boosts QXO’s total financing to $3 billion and will support the company’s acquisition strategy, according to a statement Monday that confirmed a Bloomberg News report.

Other investors including PGIM and Iconiq Capital are joining the Apollo-led consortium, a person familiar with the matter said, asking not to be identified discussing confidential information. Representatives for for PGIM and Iconiq didn’t immediately respond to requests for comment.

The ...