{"id":810786,"date":"2025-02-10T07:04:46","date_gmt":"2025-02-10T12:04:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\/"},"modified":"2025-02-10T07:04:46","modified_gmt":"2025-02-10T12:04:46","slug":"with-no-competing-offers-beacon-roofings-board-stalls-and-misleads","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\/","title":{"rendered":"With No Competing Offers, Beacon Roofing\u2019s Board Stalls and Misleads"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Beacon Insiders Recently Sold Shares Well Below Offer Price, Undermining Beacon\u2019s Case Against QXO<\/em><br \/>\n        <br \/>\n        <em>QXO Calls on Beacon Roofing to Let Shareholders Decide on QXO\u2019s $124.25 All-Cash Offer<\/em>\n      <\/p>\n<p>GREENWICH, Conn., Feb.  10, 2025  (GLOBE NEWSWIRE) &#8212; \u00a0QXO, Inc. (NYSE: QXO) today released a letter to Beacon Roofing Supply, Inc. shareholders regarding its $124.25 per share all-cash offer, addressing misrepresentations in Beacon\u2019s recent 14D-9 filing.<\/p>\n<p>Dear Beacon Shareholders,<\/p>\n<p>We seek to set the record straight on some of the numerous misleading statements in Beacon\u2019s recent communications.<\/p>\n<p>\n        <strong>1.<\/strong>\u00a0\u00a0\u00a0<strong>QXO\u2019s Offer to Acquire Beacon Roofing Supply is Highly Compelling and at a Significant Premium to Beacon\u2019s Unaffected Share Price<\/strong><\/p>\n<p>In evaluating QXO\u2019s offer, Beacon conveniently ignores that its share price reflects our acquisition interest following the Wall Street Journal\u2019s November 18, 2024 report. That day, Beacon\u2019s stock rose 9.9%, compared to a 0.4% increase in the S&amp;P 500. Yet, Beacon compares QXO\u2019s offer to share price metrics as of January 14, 2025\u2014a misleading approach that distorts expectations of Beacon\u2019s standalone value.<\/p>\n<p>A more appropriate analysis shows that QXO\u2019s offer represents:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">A 37% premium to Beacon\u2019s 90-day unaffected VWAP of $91.02 per share as of November 15, 2024;<\/li>\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">A 26% premium to Beacon\u2019s unaffected spot price of $98.75 per share as of November 15, 2024; and<\/li>\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">A higher price than Beacon\u2019s stock has ever traded.<\/li>\n<\/ul>\n<p align=\"justify\">Indeed, Beacon acknowledges that November 15, 2024 is a significant date, referencing stock performance \u201cfrom January 2, 2020 to November 15, 2024 (the last trading day before rumors surfaced).\u201d <\/p>\n<p>Moreover, since November 15, 2024, Beacon\u2019s Building Products Proxy Peers have lost 10.5% in value<sup>1<\/sup>, making QXO\u2019s offer even more compelling:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">A 41% premium to an implied spot share price of $88.42; and<\/li>\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">A 52% premium to the peer-adjusted 90-day VWAP of $81.50<sup>2<\/sup>.\u00a0 \u00a0\u00a0<\/li>\n<\/ul>\n<p>\n        <strong>2.\u00a0<\/strong>\u00a0\u00a0<strong>Data Indicates that Beacon Will Miss its Margin Targets. The Board\u2019s Claim of Strong Performance is Flawed<\/strong><\/p>\n<p>Beacon\u2019s Board touts cherry-picked historical performance, painting a misleading picture of its track record. Consensus analysts\u2019 estimates indicate that Beacon will miss all margin targets under its \u201cAmbition 2025\u201d plan. Further, Beacon\u2019s revenue growth largely stems from extraordinary inflation and inorganic growth between 2022 and 2024. From 2019 through LTM September 2024, Beacon\u2019s 7.7% revenue CAGR is the lowest of its peer group and well below the peer median of 12.1%<sup>3<\/sup>.<\/p>\n<p>Despite setting <strong><u>un<\/u><\/strong>ambitious \u201cAmbition 2025\u201d targets, consensus analysts\u2019 estimates indicate that Beacon will:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">Miss its 2025 Gross Margin target by 130 basis points;<\/li>\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">Miss its 2025 EBITDA Margin target by 114 basis points; and<\/li>\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">Deliver EBITDA margins 20bps lower in 2025 than when the \u201cAmbition 2025\u201d plan was introduced<sup>4<\/sup>.<\/li>\n<\/ul>\n<p>Furthermore, Beacon\u2019s claims of superior stock performance are easily debunked. Over the past five years, Beacon\u2019s total shareholder return has trailed its Building Products Proxy Peers by 86% and trailed those peers by 140% since CEO Julian Francis took over as CEO in August 2019<sup>5<\/sup>.<\/p>\n<p>\n        <strong>3.<\/strong>\u00a0\u00a0\u00a0<strong>QXO\u2019s Offer Represents a 3.0x Premium to Beacon\u2019s Historical Multiple<\/strong><\/p>\n<p>Beacon\u2019s lackluster operational performance and relative share price underperformance are reflected in its enterprise value to next-twelve-months EBITDA multiple, which has remained rangebound at an average of 8.1x over the past three years. Meanwhile, its valuation gap relative to its Building Products Proxy Peers widened by 1.3x<sup>6<\/sup> over the same period.<\/p>\n<p>\n        \n      <\/p>\n<p>Since Beacon has not closed the valuation multiple gap despite implementing \u201cAmbition 2025,\u201d reporting supposedly strong results and stock markets nearing all-time highs, we urge shareholders to decide if the current management and Board are the right team to create value for shareholders. QXO\u2019s proposal provides a 3.0x premium to Beacon\u2019s average historical next-twelve-months EBITDA multiple<sup>7<\/sup>, providing substantial immediate cash-certain value to shareholders.<\/p>\n<p><strong>4.\u00a0<\/strong>\u00a0\u00a0<strong>If Beacon is Truly Confident in its Future, it Should Release its Projections Today<\/strong><\/p>\n<p>Beacon\u2019s upcoming financial projections for its March Investor Day warrant skepticism. Management itself acknowledged in its filings that its upcoming 2028 targets are &#8220;ambitious,&#8221; implying they may not be realistic. Beacon has already fallen short of some &#8220;Ambition 2025&#8221; goals. Adding to the skepticism, its decision to announce the Investor Day came only days after QXO disclosed its plan to go directly to shareholders.<\/p>\n<p>Further, these newly constructed projections will not be revealed for another month\u2014more than three months after Beacon\u2019s Board first rejected QXO\u2018s offer. Why the delay? What is Beacon formulating in the interim? If the company had strong, credible projections, there would be no reason for such a drawn-out disclosure process.<\/p>\n<p>\n        <strong>5.<\/strong>\u00a0\u00a0\u00a0<strong>Actions Speak Louder than Words: Beacon Insiders Recently Sold Shares at Prices Far Below QXO\u2019s Offer<\/strong><\/p>\n<p>Since early 2024, Beacon\u2019s Chairman and CEO have sold a significant percentage of their shares at prices well below QXO\u2019s $124.25 per share offer:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">Chairman Stuart Randle sold 20.9% of his shares at $94.80<sup>8<\/sup>;<\/li>\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">CEO Julian Francis sold 9.8% of his shares at $97.91<sup>9<\/sup>;<\/li>\n<li style=\"margin-top:4pt;margin-bottom:4pt;text-align:justify\">CD&amp;R, arguably the most sophisticated financial sponsor in the distribution space, exited its position in Beacon at $83.16 per share.<\/li>\n<\/ul>\n<p>If Beacon\u2019s future is so bright under current management, why are insiders selling shares sharply below QXO\u2019s offer price?<\/p>\n<p>Additionally, Beacon\u2019s Board and management collectively own only 1.3% of outstanding<sup>10<\/sup> shares, signaling a lack of alignment with shareholder interests and demonstrating their lack of confidence in Beacon\u2019s standalone prospects.<\/p>\n<p>\n        <strong>6.\u00a0<\/strong>\u00a0\u00a0<strong>Beacon\u2019s Own Filings Suggest that No Actionable Competing Offer Exists<\/strong><\/p>\n<p>Beacon\u2019s recent filings indicate no viable third-party alternative to QXO\u2019s premium offer.<strong>\u00a0<\/strong>Beacon\u2019s 14D-9 filing has not disclosed any competing offers, or even a single NDA being signed. <\/p>\n<p>Interestingly, on December 2, 2024, representatives of J.P. Morgan explicitly informed representatives of Morgan Stanley that they had been authorized to approach other potential suitors for Beacon. QXO\u2019s letter to Beacon sent on the following day stated this clearly, yet Beacon made no effort to dispute this until two months later, on February 6, 2025.<\/p>\n<p>QXO\u2019s offer is clear, compelling and in shareholders\u2019 best interest. It is time for Beacon\u2019s Board to stop obstructing shareholders and let them decide their own financial future.<\/p>\n<p>QXO&#8217;s tender offer for all of Beacon\u2019s outstanding common stock will be effective until 12:00 midnight (New York City time) at the end of February 24, 2025, and QXO is prepared to complete the acquisition shortly after the tender expires, subject to the terms of the offer. The transaction is not subject to any financing conditions or due diligence conditions, and QXO expects that the waiting periods under the Hart-Scott-Rodino Act and the Canadian Competition Act will have expired or been waived by the time the tender offer expires.<\/p>\n<p>\n        <strong>Advisors<\/strong><\/p>\n<p>Morgan Stanley &amp; Co. LLC is acting as lead financial advisor to QXO, and Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP is acting as legal counsel.<\/p>\n<p>\n        <strong>About QXO<\/strong>\n      <\/p>\n<p>QXO provides technology solutions, primarily to clients in the manufacturing, distribution and service sectors. The company provides consulting and professional services, including specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications. QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. Visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=896r5lLgsh_eVLgH9KktocIlAw3u4cUMDsirPfqzVPDJzjy2e-bDlC9NJgwFFPRoHHsD4_6OqFNcUIxmX_XGp3G05NUaXRaxtrIdoFeyNgsK1zHpMyvFeI1anRPgBlh1RzPaKD8pSrbiXRzYuo5oLNKyZWXXYdjCO3zzhpHvxUwaXG3BSxrFq4n8HsZQMgZyfo-gNPNvKZ-8q37Rzft-BV5gz0eP5wqrDWmAKZn1BlM=\" rel=\"nofollow\" target=\"_blank\">QXO.com<\/a>\u00a0for more information.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p>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 \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201copportunity,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201ctarget,\u201d \u201cgoal,\u201d or \u201ccontinue,\u201d 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 QXO, Inc. (\u201cQXO\u201d) and Beacon Roofing Supply, Inc. (\u201cBeacon\u201d), including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those proposed; uncertainties as to whether Beacon will cooperate with QXO regarding the proposed transaction; the ultimate result should QXO commence a proxy contest for election of directors to Beacon\u2019s board of directors; QXO\u2019s ability to consummate the proposed transaction with Beacon; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; QXO\u2019s ability to finance the proposed transaction; the substantial indebtedness QXO expects to incur in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; QXO\u2019s ability to retain certain key employees; and general economic conditions that are less favorable than expected. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not assume any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.<\/p>\n<p>\n        <strong>Important Additional Information and Where to Find It<\/strong>\n      <\/p>\n<p>This communication is for informational purposes only and does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell Beacon securities. QXO and Queen MergerCo, Inc. (the \u201cPurchaser\u201d) filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (the \u201cSEC\u201d) on January 27, 2025, and Beacon filed a Solicitation\/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC on February 6, 2025. Investors and security holders are urged to carefully read the Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as each may be amended or supplemented from time to time) and the Solicitation\/Recommendation Statement, as these materials contain important information that investors and security holders should consider before making any decision regarding tendering their common stock, including the terms and conditions of the tender offer. The Tender Offer Statement, Offer to Purchase, Solicitation\/Recommendation Statement and related materials are filed with the SEC, and investors and security holders may obtain a free copy of these materials and other documents filed by QXO and Beacon with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that QXO and the Purchaser file with the SEC will be made available to all investors and security holders of Beacon free of charge from the information agent for the tender offer: Innisfree M&amp;A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, toll-free telephone: +1 (888) 750-5834.<\/p>\n<p>QXO and the other participants intend to file a preliminary proxy statement and accompanying WHITE universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 annual meeting of stockholders of Beacon. QXO strongly advises all stockholders of Beacon to read the preliminary proxy statement, any amendments or supplements to such proxy statement, and other proxy materials filed by QXO with the SEC as they become available because they will contain important information. Such proxy materials will be available at no charge on the SEC\u2019s website at www.sec.gov and at QXO\u2019s website at investors.qxo.com. In addition, the participants in this proxy solicitation will provide copies of the proxy statement, and other relevant documents, without charge, when available, upon request. Requests for copies should be directed to the participants\u2019 proxy solicitor.<\/p>\n<p>\n        <strong>Certain Information Concerning the Participants<\/strong>\n      <\/p>\n<p>The participants in the proxy solicitation are anticipated to be QXO, Brad Jacobs, Ihsan Essaid, Matt Fassler, Mark Manduca and the individuals nominated by QXO (the \u201cQXO Nominees\u201d). QXO expects to determine and announce the QXO Nominees prior to the nomination deadline for the 2025 annual meeting of stockholders of Beacon. As of the date of this communication, other than 100 shares of common stock of Beacon beneficially owned by QXO, none of the participants who have been identified has any direct or indirect interest, by security holdings or otherwise, in Beacon.<\/p>\n<p>\n        <strong>Media Contacts<\/strong><br \/>\n        <br \/>Joe Checkler<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=tNks-rS5-IM7wLZZOZaJjQGbx7aXftAgU6wHa5heWy2_ffzeT3ov6EsP1CkY9aNVHGU-VMxcklmbOyX9MO6QPwpTS_aiqeX2-igvDU8B-q8=\" rel=\"nofollow\" target=\"_blank\">joe.checkler@qxo.com<\/a><br \/>203-609-9650<\/p>\n<p>Steve Lipin \/ Lauren Odell<br \/>Gladstone Place Partners<br \/>212-230-5930<\/p>\n<p>\n        <strong>Investor Contacts<\/strong><br \/>\n        <br \/>Mark Manduca<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yJr-A19OhyJYa4V-0PJp7_C4GMwQgznDCYCp8QukSNrBD4dtDU5x1Gc7vVPeszm3Q7wA88_xIQxAruZ7eVRk12NFAwr4oAgGS852Y0Hz3mg=\" rel=\"nofollow\" target=\"_blank\">mark.manduca@qxo.com<\/a><br \/>203-321-3889<\/p>\n<p>Scott Winter \/ Jonathan Salzberger<br \/>Innisfree M&amp;A Incorporated<br \/>212-750-5833<\/p>\n<p>\n        <sup>1<\/sup> Market data as of February 7, 2025. Average of building products subset of the peer list presented in Beacon\u2019s April 2024 Proxy Statement; includes: Builders FirstSource, Boise Cascade, GMS, Pool Corp, SiteOne, WATSCO, Wesco (\u201cBuilding Products Proxy Peers\u201d)<br \/><sup>2<\/sup> Based on Beacon\u2019s unaffected share price as of November 15, 2024 and the average share price performance since November 15, 2024 for the Building Products Proxy Peers<br \/><sup>3<\/sup> Reported revenues for Beacon and Building Products Proxy Peers<br \/><sup>4<\/sup> Based on median 2025E Wall Street research estimates, sourced from Capital IQ as of February 7, 2025<br \/><sup>5<\/sup> Market data as of November 15, 2024. Total shareholder return reflects stock price performance adjusted for cash dividends paid, stock splits, rights offerings and spin-offs during the period<br \/><sup>6<\/sup> As per Capital IQ as of November 15, 2024<br \/><sup>7<\/sup> As of November 15, 2024; next-twelve-months EBITDA calculated using calendarized annual broker EBITDA estimates for Beacon<br \/><sup>8<\/sup> As per Mr. Randle\u2019s Form 4 filed with the SEC on May 28, 2024. According to Mr. Randle\u2019s Form 4, this sale was not made pursuant to a Rule 10b5-1 plan or to pay any exercise price or tax liability incident to the receipt, exercise or vesting of equity awards.<br \/><sup>9<\/sup> As per Mr. Francis\u2019s Form 4 filed with the SEC on May 22, 2024. According to Mr. Francis\u2019s Form 4, this sale was not made pursuant to a Rule 10b5-1 plan or to pay any exercise price or tax liability incident to the receipt, exercise or vesting of equity awards.<br \/><sup>10<\/sup> As per Schedule 14D-9 filed with the SEC on February 6, 2025<\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=olFEmfdtkLrwExDa_Ju_-j3F3AMz0xLgFnhulBW3hM87JS_LgphAjPkqcYqG85WSFXZB-D3v3ZOIPE0usj1jQW5b12y64RlDjWpLpPP22p5hqLXa9-AZDioEOSpzoFLAXdxrWJfNulw9euErryFJURiKz3Sa_TGCBzdAwO0iRf-fqELTRh0sjpKZP0pnCZp_CY3RN6SLZdizjh_axYSFkvegLhFmq5unq7VDXVR8PI2Io3UWYIoRLzhQLoS1NWn4hcpfbPR3GbQ-hqh5XBAIzw==\" rel=\"nofollow\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/5854092c-16b2-41c5-918c-3c0e68bd5705<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1NTYzMCM2NzQyODUzIzIyNjQ3NDI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MmZhN2JkMzAtZGU5Yi00NWQ3LTg2ZWQtZTE3NzU0NWE1ZmYwLTEyNzYyOTI=\/tiny\/QXO-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Beacon Insiders Recently Sold Shares Well Below Offer Price, Undermining Beacon\u2019s Case Against QXO QXO Calls on Beacon Roofing to Let Shareholders Decide on QXO\u2019s $124.25 All-Cash Offer GREENWICH, Conn., Feb. 10, 2025 (GLOBE NEWSWIRE) &#8212; \u00a0QXO, Inc. (NYSE: QXO) today released a letter to Beacon Roofing Supply, Inc. shareholders regarding its $124.25 per share all-cash offer, addressing misrepresentations in Beacon\u2019s recent 14D-9 filing. Dear Beacon Shareholders, We seek to set the record straight on some of the numerous misleading statements in Beacon\u2019s recent communications. 1.\u00a0\u00a0\u00a0QXO\u2019s Offer to Acquire Beacon Roofing Supply is Highly Compelling and at a Significant Premium to Beacon\u2019s Unaffected Share Price In evaluating QXO\u2019s offer, Beacon conveniently ignores that its share price reflects our acquisition interest &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;With No Competing Offers, Beacon Roofing\u2019s Board Stalls and Misleads&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-810786","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>With No Competing Offers, Beacon Roofing\u2019s Board Stalls and Misleads - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With No Competing Offers, Beacon Roofing\u2019s Board Stalls and Misleads - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Beacon Insiders Recently Sold Shares Well Below Offer Price, Undermining Beacon\u2019s Case Against QXO QXO Calls on Beacon Roofing to Let Shareholders Decide on QXO\u2019s $124.25 All-Cash Offer GREENWICH, Conn., Feb. 10, 2025 (GLOBE NEWSWIRE) &#8212; \u00a0QXO, Inc. (NYSE: QXO) today released a letter to Beacon Roofing Supply, Inc. shareholders regarding its $124.25 per share all-cash offer, addressing misrepresentations in Beacon\u2019s recent 14D-9 filing. Dear Beacon Shareholders, We seek to set the record straight on some of the numerous misleading statements in Beacon\u2019s recent communications. 1.\u00a0\u00a0\u00a0QXO\u2019s Offer to Acquire Beacon Roofing Supply is Highly Compelling and at a Significant Premium to Beacon\u2019s Unaffected Share Price In evaluating QXO\u2019s offer, Beacon conveniently ignores that its share price reflects our acquisition interest &hellip; Continue reading &quot;With No Competing Offers, Beacon Roofing\u2019s Board Stalls and Misleads&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-10T12:04:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1NTYzMCM2NzQyODUzIzIyNjQ3NDI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"With No Competing Offers, Beacon Roofing\u2019s Board Stalls and Misleads\",\"datePublished\":\"2025-02-10T12:04:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\\\/\"},\"wordCount\":2412,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTM1NTYzMCM2NzQyODUzIzIyNjQ3NDI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/with-no-competing-offers-beacon-roofings-board-stalls-and-misleads\\\/\",\"name\":\"With No Competing Offers, Beacon Roofing\u2019s Board Stalls and Misleads - 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(NYSE: QXO) today released a letter to Beacon Roofing Supply, Inc. shareholders regarding its $124.25 per share all-cash offer, addressing misrepresentations in Beacon\u2019s recent 14D-9 filing. 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