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“Patrick is a world-class operator with the relevant experience to lead GXO through its next phase of growth,” GXO Board Chairman Brad Jacobs said.

QXO won’t raise its $5 billion offer for building products distributor GMS after 91��Ƶ Depot reportedly made its own bid.

91��Ƶ Depot has made an offer for GMS, potentially setting off a bidding war with QXO, which this week made a $5 billion offer for the building products distributor.

QXO has agreed to acquire Beacon Roofing Supply in a deal that values the distributor of roofing, waterproofing and exterior products at about $11 billion, including debt.

Beacon Roofing Supply is in talks to be bought by QXO for about $11 billion including debt after rejecting an earlier takeover approach.

Beacon Roofing Supply has officially rejected a hostile takeover approach from QXO, setting the stage for a potentially protracted battle for control of the building supplies provider.

M&A specialists are eyeing a robust list of U.S. takeover candidates, with a buoyant economy, strong buyer appetite and a potentially looser regulatory regime seen driving more deals.

Beacon Roofing Supply Inc. has adopted a poison pill defense as the building products company pushes back against a hostile takeover approach from QXO Inc.

Beacon Roofing Supply has started soliciting interest from potential buyers as it looks to fend off an $11 billion takeover bid from rival QXO Inc., people familiar with the matter said.

Brad Jacobs, the executive chairman of less-than-truckload carrier XPO Inc., announced on Dec. 11 he plans to target the building products industry in his latest business venture.