On March 20, 2025, QXO Inc. and Beacon Roofing Supply Inc. announced they had entered into a definitive merger agreement, under which QXO will acquire Beacon for $124.35 per share in cash. Therefore, S&P Global Ratings placed all of its ratings on Beacon, including the 'BB-' issuer credit rating, on CreditWatch with developing implications. The CreditWatch placement reflects the uncertainty regarding how the transaction will affect Beacon's capital structure and leverage. The CreditWatch placement follows the announcement that QXO Inc. and Beacon Roofing Supply Inc. entered into a definitive merger agreement, under which QXO will acquire Beacon for $124.35 per share in cash. The deal, which is still subject to shareholder approval and the fulfillment of customary closing conditions, has
