Company: QXO-PB
Filing Date: 2025-03-07
Form Type: DFAN14A
Source: 0000950142-25-000649
Chunk: 12

Company: QXO, Inc.
Filing Date: 2025-03-07
Form: DFAN14A
Chunk 12
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 industries relevant to Beacon’s continued success, including industrial manufacturing, national and international distribution, supply chain, information technology, logistics, e-commerce, strategy, marketing, brand management, cybersecurity and finance.”

— Beacon’s Board of Directors, responding to QXO’s proposed board nominees (Feb. 12)

Beacon said its board will evaluate QXO’s director nomination notice
and present its recommendations in the company’s proxy statement that will be filed with the SEC ahead of Beacon’s annual
shareholders meeting.

Antitrust Cleared – QXO Calls for “Poison Pill” Removal

On the antitrust front, QXO confirmed that the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act has expired and that it has received early termination of the waiting period from the Canadian
Competition Bureau.

Alongside the clearance announcement, QXO Chairman and CEO Brad Jacobs
called upon Beacon to remove the shareholder rights agreement Beacon adopted in late January that the company said is a means of protecting
stockholder interests and maximizing value for them.

“With committed financing in place and these necessary regulatory
approvals secured, QXO is prepared to complete this acquisition and deliver immediate, compelling value to Beacon shareholders,”
said Brad Jacobs, chairman and chief executive officer of QXO. “Beacon should remove its shareholder-unfriendly poison pill so shareholders
can benefit from our premium all-cash offer.”

Forward-Looking Statements

This communication contains forward-looking statements. Statements that
are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval timing and nominating
directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements
are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use
of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,”
“intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “target,” “goal,” or “continue,” or the negative of these terms or other
comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important
factors could cause actual results to differ materially from those contained in any such forward-looking statements. Such factors include
but are not limited to: the ultimate outcome of any possible transaction between QX