Beacon Roofing CEO Julian Francis discusses the company's recent interactions with QXO, a building products distributor attempting to acquire Beacon. After several rejected takeover offers, QXO went directly to shareholders with a $124.25 per share cash offer. Francis maintains that Beacon's board previously deemed the offer insufficient and that the company has attempted to engage with QXO constructively.
In a Monday interview with CNBC's Jim Cramer, Beacon Roofing CEO Julian Francis described the company's communications with QXO, a building products distributor looking to acquire his company.
"I'm not going to speculate on what the board determines the value of the company is, but what we're dealing with right now is an offer for $124.25 per share," he said. "We determined at the time, the board determined at the time that that was insufficient, we went back and tried to be constructive with, with QXO.
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