Company: QXO-PB
Filing Date: 2025-03-10
Form Type: DFAN14A
Source: 0000950142-25-000710
Chunk: 1

Company: QXO, Inc.
Filing Date: 2025-03-10
Form: DFAN14A
Chunk 1
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 my command. Beacon
Roofing Supply and QXO are in discussions about a possible combination.

Andrew Ross-Sorkin: Boom!

Joe Kernen: I told you.

Andrew Ross-Sorkin: Booyah!

Joe Kernen: In which QXO would acquire Beacon in a deal valued at
around $11 billion.

Item 2: On March 10, 2025, QXO updated its website dedicated to its offer
to purchase Beacon Roofing Supply, Inc. (“Beacon”), which website is available at www.qxo.com/beacon. Copies of the materials
posted to the website are filed herewith. From time to time, QXO and the other participants named herein may refer shareholders of Beacon
to recent articles, copies of which are reproduced as Exhibits 3 and 4.

Exhibit 3:

Beacon Roofing Supply, QXO Discussing Potential Deal

Wall Street Journal

By Denny Jacob

March 10, 2025

| § | Beacon said it is delaying its investor day that was scheduled for Thursday |

Beacon Roofing Supply and QXO have launched discussions about a potential
combination in which Brad Jacobs’ company would acquire Beacon for around $7.7 billion.

The two sides said Monday that they are negotiating a definitive agreement
in which QXO would pay $124.35 a share for the roofing and building products distributor. The offer is 10 cents a share higher than a
previous offer that had been rebuffed.

Including debt, the offer values Beacon at around $11 billion.

Both companies noted that there’s no guarantee that the discussions
will result in a deal. Beacon is delaying its investor day that was scheduled for Thursday.

QXO, a new player in building-products distribution, has been eyeing the
Herndon, Va.-based Beacon since last year. After being turned down on several occasions, QXO launched a tender offer to acquire Beacon
and said it was prepared to nominate directors to Beacon’s board.

Greenwich, Conn.-based QXO is headed by Jacobs, who has built multibillion-dollar
companies in logistics and other sectors through acquisition. He and others agreed in late 2023 to invest about $1 billion into a small,
publicly traded software company — SilverSun Technologies — and renamed it QXO, which has yet to strike its first big deal.

The pursuit comes as dealmaking in the building-materials space has been
heating up.