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The significant acquisition offer and resultant stock increase indicate strong investor interest, historically leading to price appreciation.
What happened, with direct paths to the underlying reporting
Beacon Roofing Supply's stock rose 10% following QXO's $11 billion acquisition bid. XO offered $124.25 cash per share, suggesting investor discontent with BECN's board actions. CEO Brad Jacobs criticized Beacon's board for anti-shareholder actions hindering negotiations.
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