QXO’s Brad Jacobs Pens Open Letter to Beacon Employees - Modern Distribution Management

QXO’s Brad Jacobs Pens Open Letter to Beacon Employees

To further court Beacon investors to tender their shares into QXO's buyout offer, QXO's founder and CEO wrote to sympathize and level with Beacon staff.
QXO NYSE 3

As QXO courts Beacon investors to tender their shares into QXO’s acquisition offer, the building materials distributor and technology company’s founder is reaching out directly to Beacon employees.

Jacobs — the serial entrepreneur behind XPO Logistics (and its spinoffs GXO and RXO), United Rentals and Waste Management — penned an open letter to Beacon staff that he shared on LinkedIn March 7.

MDM’s SHIFT Conference Coming May 13-15 – Register Here 

Sympathizing with Beacon employees who may be wondering what is going to happen with the offer and potential transaction, the letter acknowledges the uncertainty involved, noting that “it’s still up in the air whether QXO will be successful” in getting a deal done.

The letter outlined the value QXO sees in Beacon’s staff, noting the experience that attracted QXO to pursue it. Jacobs noted that the first thing he and the QXO leadership team would do — if a deal is struck — is to have a “listening tour” in which they would seek to gather input from all Beacon employees on two key questions of what Beacon does best and shouldn’t change and areas for improvement.

MDM’s 2025 Top Distributors Survey is Open. Submit Your Company Info Here 

See Jacobs’ letter in full below:

Beacon LogoThe letter follows the latest round of back-and-forth public statements between QXO and Beacon on March 4, when QXO re-extended its all-cash offer of $124.25 per share to 5 p.m. ET on March 10. QXO originally set a deadline of the end of Feb. 24 before extending it a day later to March 3.

In that latest extension announcement, Jacobs noted how Beacon’s top executives had recently sold considerable portions of their shares at $94.80 and $97.91 per share and called resistance from the company’s board of directors “indefensible.” Beacon fired back shortly after, reiterating its stance that QXO’s offer “substantially undervalues” the company and its growth prospects.

MDM’s Virtual AI Summit Set for March 12 – Register Here 

Beacon will host an Investor Day in New York City on March 13.

More on QXO-Beacon

Lead photo by Mike Hockett/MDM

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

Name(Required)
This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!