Company: QXO-PB
Filing Date: 2025-02-21
Form Type: DFAN14A
Source: 0000950142-25-000485
Chunk: 2

Company: QXO, Inc.
Filing Date: 2025-02-21
Form: DFAN14A
Chunk 2
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 credible projections, why delay releasing them? Beacon’s disclosures indicate that no viable competing offer was available as of February 6, 2025. Beacon’s recent filings indicate there is no viable third-party alternative to QXO’s premium offer. Beacon’s 14D-9 filing did not report any competing offers, or even a single NDA being signed. What experts are saying “The price Jacobs has proposed would be an all-time high and it does top the sell side’s consensus price target for Beacon. It also looks relatively better when you factor in the losses that Beacon’s peers have suffered since November.” — Gordon Haskett, “Event-Driven Research” (1/15/2025) “When we first learned QXO was willing to pay $124.25, we gave that proposal a B+ grade. Today, we’re raising that to an A.” — Gordon Haskett, “A Beacon peer taps the brakes” (2/20/2025) “Now, shareholders will have to decide to take the money or back current management, risking a drop in the share price toward $100. The average share price last year was about $93.” — Bloomberg Opinion, “When Brad Jacobs Talks, Investors Should Pay Attention” by Thomas Black (1/16/2025) “It seems unlikely to us that investors will vote against the cash offer regardless of what information is given at the upcoming Beacon analyst day.” — Truist, “QXO Continues Beacon Pressure; Still Waiting for Competing Bids” (2/10/2025) “We believe QXO’s offer to buy Beacon for $124.25 per share in cash is compelling, and we see a high likelihood the deal gets done.” — William Blair, “Thoughts on QXO’s $11 Billion Offer to Acquire Beacon” (1/15/2025) “Now that QXO is going public with their bid, we would think that there would be more pressure on Beacon to sell, as the purchase price range appears fair to us in comparison to Beacon’s historical valuation and when compared to peer multiples.” — Loop Capital, “QXO Makes Bid for Beacon Public, PT to $127” (1/15/2025) “Though our fundamental outlook suggests a $115 target price, we believe the absence of takeout speculation could suggest Beacon shares drop into the $90s over the near term.” — Stifel, “QXO Offer Prospects Likely to