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Stock impact report

Apollo Said to Invest in Brad Jacobs' Distribution Firm QXO [Yahoo! Finance]

United Rentals, Inc. (URI) 
Last united rentals, inc. earnings: 4/29 04:15 pm Check Earnings Report
Company Research Source: Yahoo! Finance
products company's acquisition strategy, according to people familiar with the situation. The investment into Greenwich, Connecticut-based QXO is also backed by other firms including Franklin Templeton, the people said, asking not to be identified because the matter is private. An announcement could come as soon as Monday, the people said, cautioning that the timing could still change. Most Read from Bloomberg Sinkholes and Quake-Hit Roads Expose Japan's Infrastructure Emergency The financing for the company, which is led by billionaire and serial dealmaker Brad Jacobs, will be in convertible preferred stock, they added. The investors' initial conversion price into common stock will be $23.25 per share, roughly 18% above QXO's Friday closing price of $19.72, the people said. Shares of QXO jumped as much as 7.4% in premarket trading on Monday. The stock has risen more than 20% in the past year as of Friday, giving it a market value of $13.3 billion. One significant conditio Show less Read more
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