Beacon Roofing Supply and QXO have agreed to an $11 billion buyout, sending shares of both companies higher. QXO announced the merger on Thursday morning. It will pay $124.35 per share in cash for the building-materials supplier.

It ends a four-month public standoff between the two companies and marks another milestone acquisition in the building materials distribution sector.

After its initial efforts to buy Beacon Roofing Supply were rebuffed, QXO and the roofing distributor have come to an agreement.