Beacon Adopts Poison Pill

Beacon seeks to fend off QXO's hostile takeover with poison pill
Beacon Roofing Supply on Tuesday adopted a poison pill defense to prevent a $11 billion hostile takeover by billionaire entrepreneur Brad Jacobs through his company QXO. The defense strategy creates a roadblock for Jacobs' attempt to become a big player in building products distribution through QXO,
Beacon Adopts Poison Pill to Defend Against Hostile QXO Bid
Beacon Roofing Supply Inc. has adopted a poison pill defense as the building products company pushes back against a hostile takeover approach from QXO Inc.
Beacon Roofing CEO describes dealings with QXO as takeover bid heats up
Beacon Roofing CEO Julian Francis described communications with a building products distributor looking to acquire his company.
QXO Commences $11B Takeover Bid for Beacon
Meanwhile, QXO maintains that its offer of $124.25 per share is 17% higher than the Beacon stock has ever traded; represents a 37% premium over the 90-day unaffected stock price; and represents a 26% premium to the stock the day before the Wall Street Journal’s Nov. 18 report that QXO was pursuing a deal.
QXO Launches Hostile Takeover Bid for Beacon Roofing Supply
QXO Inc. has launched a hostile takeover bid for Beacon Roofing Supply Inc. after the board of the building products company rejected its offer as too low.
Beacon Implements Stockholder Rights Plan Following QXO's Takeover Offer
Tuesday announced the adoption of a limited duration stockholder rights agreement following QXO, Inc.'s (QXO) tender offer to acquire the company for $124.25 per share in cash. The agreement intends to protect shareholders of Beacon from anyone seeking to gain control of the company without paying all stockholders an appropriate control premium.
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