Company: QXO-PB
Filing Date: 2025-03-07
Form Type: DFAN14A
Source: 0000950142-25-000649
Chunk: 6

Company: QXO, Inc.
Filing Date: 2025-03-07
Form: DFAN14A
Chunk 6
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 and waives conditions. Jacobs said he plans to close the deal right after the tender period expires.

Jacobs met Beacon CEO Julian Francis by videoconference “for the
first and only time” on July 22, 2024, according to a filing detailing the failed engagement.

Earlier this month, Jacobs made his offer public. Beacon rejected it, saying
the proposal significantly undervalued the company. Beacon urged its shareholders on Monday not to take any action at the time and said
it will evaluate QXO’s tender offer to determine the course of action.

NEW PLAYER

Jacobs has built an empire of multibillion-dollar companies spanning industries
from logistics to waste management and equipment rentals by acquiring companies in industries undergoing consolidation, and spinning some
of them off at a higher value.

In 2023, Jacobs invested about $1 billion in a software company which he
renamed as QXO. He wants to turn QXO into “a forward-looking leader in building products distribution,” a $800 billion industry.
And promised to deliver tens of billions of dollars of annual revenue in the next decade.

Shares of QXO were down 3.7% on Monday. The company said it intends to
pursue all options to complete a transaction, including nominating directors for election at Beacon's annual meeting.

QXO said it had secured full-financing commitments from Goldman Sachs,
Morgan Stanley, Citi, Credit Agricole, Wells Fargo and Mizuho.

The company counts U.S. President Donald Trump’s son-in-law, Jared
Kushner, opens new tab, as a board member.

Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO
and JPMorgan is advising Beacon.

Exhibit 5:

QXO appeals to Beacon’s shareholders

HBSDealer

By HBSDealer Staff

February 10, 2025

| § | Read the company's forceful case for its ‘$124.25 all-cash offer.’ |

QXO has fired another salvo in its bid to acquire Virginia-based Beacon
Roofing. This time, it’s directly addressing Beacon’s shareholders in an attempt to seal the deal before the deadline of midnight
on February 24, 2025.

QXO’s latest release offers six points that aim to rebut Beacon’s
recent messaging and reinforce the primacy of its offer.

QXO’s key points are distilled below:

1. QXO’s Offer