The Ademi Firm is investigating Beacon (Nasdaq: BECN) for possible breaches of fiduciary duty and other violations of law in its transaction with QXO.
In the transaction, Beacon shareholders will receive only $124.35 per share in cash per share of Beacon common stock, with a transaction value of approximately $11 billion. Beacon insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Beacon by imposing a significant penalty if Beacon accepts a competing bid. We are investigating the conduct of the Beacon board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.