QXO Inc. (QXO) needs to at least offer a "low double-digit" multiple for Beacon Roofing (NASDAQ:BECN) after a report that QXO is making an offer for the distributor of roofing matters, according to a Jefferies analyst.

QXO, a new player in building products distribution, has made an offer to acquire Beacon Roofing Supply, according to people familiar with the matter. Beacon has a market value of about $6.2 billion,

Building products distributor QXO Inc. (QXO) has made an offer to acquire Beacon Roofing Supply (BECN), according to Wall Street Journal reports. Market Domination hosts Julie Hyman and Josh Lipton break down this news while eyeing the gains seen in both stocks.