QXO

The proposal implies a total transaction value of approximately $11 billion and a 37% premium above Beacon’s 90-day unaffected volume-weighted average price of $91.02.

Rao began his career on Wall Street, as a derivatives trading quant strategist with Goldman Sachs and later as managing director of market modeling for Morgan Stanley.

Following the closing, QXO will have approximately 409.4 million outstanding shares of common stock.

Chairman and CEO Brad Jacobs has previously said he plans to build QXO into a $50 billion revenue company over the next decade.

In connection with the closing of the equity investment, Brad Jacobs became QXO’s chairman and chief executive officer and will lead the company in the $800 billion building products distribution industry.

Essaid’s more than three decades in global investment banking have centered on providing critical advisory services for large M&A and capital markets transactions.