Key Takeaways After its initial efforts to buy Beacon Roofing Supply were rebuffed, technology solutions firm QXO and the roofing distributor have come to an agreement.QXO will pay Beacon shareholders $124.

Beacon Roofing Supply has agreed to an $11 billion buyout offer from billionaire Brad Jacobs' firm QXO, weeks after it rejected a marginally lower bid from the company and raised its defenses to prevent a hostile takeover.

The agreement between QXO and Hernon, Virginia-based Beacon Roofing Supply, which describes itself as the “largest publicly traded distributor of roofing materials and complementary building products” in the U.S. and Canada, culminates QXO’s months-long pursuit.