QXO (QXO) said Wednesday that US and Canadian antitrust regulators have cleared its acquisition of Beacon Roofing Supply (BECN).
Brad Jacobs, chairman and chief executive of QXO, called on Beacon to "remove its shareholder-unfriendly poison pill" for the benefit of shareholders.
QXO said its all-cash tender offer for all Beacon shares of $124.25 per share remains open until midnight ET at the end of Feb. 24, after which it is ready to close the acquisition.
Beacon's board last week recommended that shareholders not tender their shares to QXO, saying that QXO's offer "significantly undervalues the company and its prospects for growth and value creation."
Beacon didn't immediately respond Wednesday to a request for comment from MT Newswires.
QXO shares rose 4.5% in premarket trading, while Beacon was up 0.4%.
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