Company: QXO-PB
Filing Date: 2025-03-20
Form Type: 8-K
Source: 0001140361-25-009591
Chunk: 3

Company: QXO, Inc.
Filing Date: 2025-03-20
Form: 8-K
Item: Item 1.01
Chunk 3
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, subject to certain limited exceptions, (i) Beacon to file an amended solicitation/recommendation statement on Schedule 14D-9 with the Securities and
Exchange Commission (the “ SEC”), and (ii) the Beacon Board to recommend that Beacon’s stockholders accept the Offer and tender their Shares pursuant to the Offer. These covenants also provide that for one year immediately following the Effective Time, QXO will cause the Company or the Surviving Corporation to maintain the salaries and cash incentive compensation targets of
continuing employees, as well as, with respect to certain benefits, substantially similar benefits in the aggregate for such employees. QXO will also honor employment, severance, income continuity and change of control program, plans and
agreements between Beacon and continuing employees (provided that QXO and Beacon are not prohibited from amending, suspending or terminating any such arrangements (excluding individual severance arrangements) to the extent permitted
under, and in accordance with, their terms).

Each of QXO and Beacon has made its respective filings pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,
and the rules and regulations promulgated thereunder (the “ HSR Act”) and Competition Act (Canada) with respect to the Offer. The waiting period under the HSR Act with respect to the Offer expired on February 11, 2025 and QXO received early
termination of the waiting period from the Canadian Competition Bureau on February 10, 2025.

Non-Solicitation. The Merger
Agreement generally requires that Beacon and its affiliates and representatives cease any solicitations, encouragements, discussions or negotiations with any person, and not solicit, initiate or knowingly facilitate or knowingly encourage any inquiries

regarding, or the making of any proposal or offer that constitutes or could reasonably be expected to lead to an acquisition proposal from, or engage in discussions or negotiations with or furnish non-public information to, any third
party. However, if prior to the acceptance for purchase by Merger Sub of Shares tendered in the Offer (the “ Acceptance Time”), Beacon receives a bona fide unsolicited written acquisition proposal under circumstances not involving a breach of
the applicable restrictions set forth in the Merger Agreement that the Beacon Board determines in good faith (after consultation with its financial advisors and legal counsel) to be a superior proposal or would reasonably be expected to lead to a
superior proposal (such proposal, a “ Superior Proposal”), then Beacon would