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Fwd: The Briefing: Zuckerberg-Musk Double Act
by Gunnar Larson 01 Feb '25

01 Feb '25

"On conference calls discussing their respective fourth-quarter earnings reports this week, both Musk and Zuckerberg characterized this year as vital to determining the outcome of these bets." ---------- Forwarded message --------- From: Martin Peers <info(a)theinformation.com> Date: Fri, Jan 31, 2025, 6:29 PM Subject: The Briefing: Zuckerberg-Musk Double Act To: <g(a)xny.io> Is Mark Zuckerberg auditioning for the role of Elon Musk’s Mini-Me? We’re kidding, but it is uncanny how much Zuckerberg seems to be following Musk’s lead lately. In the latest example, The Wall Street Journal reported on Friday that Meta Platforms is considering moving its legal incorporation to Texas, out of Delaware, just as Tesla did last year. ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ [image: The Information logo] <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> Jan 31, 2025 The Briefing By Martin Peers ------------------------------ *Thanks for reading The Briefing, our nightly column where we break down the day’s news. If you like what you see, I encourage you to subscribe to our reporting here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1Z…>.* ------------------------------ Greetings! Is Mark Zuckerberg auditioning for the role of Elon Musk’s Mini-Me? We’re kidding, but it is uncanny how much Zuckerberg seems to be following Musk’s lead lately. In the latest example, The Wall Street Journal reported <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1Z…> on Friday that Meta Platforms is considering moving its legal incorporation to Texas, out of Delaware, just as Tesla did <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> last year. This follows Zuckerberg’s recent decision to adopt a “community notes” feature for fact-checking within Meta’s apps, as in Musk’s X. Then there’s Zuckerberg’s pullback on DEI, his podcast chatter about “masculine energy,” and Meta’s support of Musk’s challenge to OpenAI’s for-profit conversion <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1Z…>. The days when these two were talking about a cage match seem to be far in the rearview mirror. It may not be a coincidence that, unlike most tech CEOs, the two have unchallenged power at their companies. In keeping with that power, they’re both making giant, risky investments on AI-based products. That’s particularly true for Zuckerberg, who is turning on the money spout this year to make his Meta AI assistant the leader in the industry and make Meta’s Ray-Ban AI glasses an even bigger hit. Musk, for his part, is going all in on self-driving cars at Tesla, hoping to compete with Waymo in robotaxis. (For more that plan, see here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> ). On conference calls discussing their respective fourth-quarter earnings reports this week, both Musk and Zuckerberg characterized this year as vital to determining the outcome of these bets. Investors so far are backing them to the hilt. If they fall short, expect some fireworks. Missed Opportunities? There’s a reason why very few companies allow reporters to join Wall Street analysts in asking questions on quarterly earnings calls. Unlike reporters, analysts rarely ask tough questions, preferring to zero in on arcane minutiae that help their financial models and ensure they don’t upset company executives. Take this week: None of the Wall Street analysts on Microsoft’s earnings call this week asked CEO Satya Nadella whether President Trump was correct in saying Microsoft was in talks to buy TikTok. Perhaps they thought the subject was too lowbrow? It certainly can’t be because the issue is not important. A purchase could cost tens of billions and eat up eons of management time. Maybe the analysts assumed Nadella wouldn’t want to answer the question, so they obliged him by not asking it. Whatever the reason, investors missed an opportunity to get an answer on an important subject. The Information’s Stories of the Week Start your weekend reading with this colorful feature <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> about the battle between preservationists and environmentalists on the one hand and developers building giant data centers for AI on the other. As Theo Wayt chronicled in the story, they’re waging battle in Virginia, a state that is “at the crossroads of modernity and history.” Elsewhere on the AI front, one of our biggest stories of the week <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> was this scoopy deep dive into how Meta’s AI teams were freaking out about rival AI model DeepSeek’s advances. To figure out how DeepSeek did what it did, Meta’s teams started four war rooms to learn how the model works. Other angles on DeepSeek were here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…>, here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…>, here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> and here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…>. We also dug into how other Chinese AI startups <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> are doing (not so well). New details about the Stargate AI data center venture emerged this week. We scooped the news <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> that SoftBank will put a total of $40 billion into both Stargate and OpenAI, Stargate’s driving force. Cory Weinberg went deeper on the risks <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> facing SoftBank in making the investment. We also published this Glossary of AI Jargon <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…>, which is a must-read for anyone who isn’t fluent in AI tech speak. And we detailed how data centers <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> are becoming their own power utilities to ensure they have enough electricity to operate. Meanwhile, on the deal front, we broke news <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> that Snowflake is in talks to buy analytics startup Redpanda. And we published this True Value <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> analysis making the case that Seagate Technology and Western Digital may be sleeper AI picks. Finally, this was big tech earnings week, with results coming from Meta, Microsoft, Tesla and others. We followed up on Meta’s results with this report on how <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> it is working with ad agencies to ensure advertisers use its generative AI creative ad tools. And Steve LeVine gave his take on Tesla’s earnings <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> . In Other News - Zyphra, a Palo Alto, Calif., developer of open-source models that users can download to devices like phones or home entertainment devices, is in talks to raise $100 million in Series A funding at a $1 billion valuation, according to a person close to the company. - Meta CEO Mark Zuckerberg told employees Thursday that the company sold more than a million of its Ray-Ban smart glasses in 2024, marking the first time it has disclosed sales figures for the product. - Crypto exchange Kraken said its revenue last year more than doubled to $1.5 billion from $671 million in 2023. - Apple filed an emergency motion Thursday evening seeking to pause the U.S. government’s antitrust case against Google as the iPhone maker appeals a district court judge’s decision to prevent it from intervening (more here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> ). Recommended Newsletter More than 120,000 readers rely on The Information's Creator Economy newsletter for coverage of the creator startups making waves, big tech companies' social media playbooks, and scoops on the sector's biggest hires. Start receiving the free newsletter here <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> . New From Our Reporters <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> The Big ReadWith Google and Microsoft Moving In, a Battle Over Hallowed Ground Erupts <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> By Theo Wayt <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> ExclusiveMeta Taps Ad Agencies to Help Devise AI Ad Tools <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> By Catherine Perloff <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> What We’re Reading Trump Says Tariffs Are Coming on Computer Chips, Steel <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1U…> ------------------------------ To Combat Shoplifters, Retailers Are Hiring People to Steal <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1R…> Upcoming Events Thursday, February 27 —AI Agenda Live - SF <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> Join us for our first AI event of 2025, AI Agenda Live on February 27 in San Francisco. We’ll bring together the leaders shaping the future of AI to tackle the industry’s most critical questions. Space is limited. Purchase your ticket today. More details <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> Opportunities Group subscriptions <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> Empower your teams to stay ahead of market trends with the most trusted tech journalism. Learn more <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> Brand partnerships <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> Reach The Information’s influential audience with your message. Connect with our team <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> About The Briefing Get smarter about the most important stories in tech, media and finance by following Silicon Valley’s most-read executive newsletter. Read the archives <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> Follow us [image: X] <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> [image: LinkedIn] <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1Y…> [image: Facebook] <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1d…> [image: Threads] <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1c…> [image: Instagram] <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1e…> Sent to g(a)xny.io | Manage your preferences or unsubscribe <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…> | Help <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1Z…> The Information · 251 Rhode Island Street, Suite 107, San Francisco, CA 94103 <#m_8930118929153218970_> <https://url3396.theinformation.com/ls/click?upn=u001.71kYkaWDpGOJSzbGrs4y1T…>

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JPMorgan Chase Charged by Yet Another Internal Whistleblower with Cooking the Books
by Gunnar Larson 31 Jan '25

31 Jan '25

https://wallstreetonparade.com/2025/01/jpmorgan-chase-charged-by-yet-anothe… By Pam Martens and Russ Martens: January 31, 2025 ~ Jamie Dimon Sits in Front of Trading Monitor in his Office (Source -- 60 Minutes Interview, November 10, 2019) Jamie Dimon Sits in Front of Trading Monitor in his Office (Source — 60 Minutes Interview, November 10, 2019) The International Consortium of Investigative Journalists (ICIJ) has gotten its hands on a blockbuster 35-page letter that a former JPMorgan banker sent to the bank’s Audit Committee of the Board of Directors in August 2023. The letter asserts that the bank has been ginning down the amount of capital it is required to hold by improperly using an accounting technique called “netting.” The whistleblower asserts that “this could have allowed JPMorgan Chase to generate an additional $2 billion in net income in one year alone.” The whistleblower indicates that he/she brought this alleged malfeasance to bank officials in 2018 but was “ultimately retaliated against and laid off in 2022.” That is becoming a common refrain by whistleblowers inside JPMorgan Chase: they say they are rewarded for bringing improper, or brazenly illegal, conduct to the attention of their superiors by being shown the exit door. Consider what we reported in October 2022: “The plaintiff in the case is Shaquala Williams, an attorney and financial crimes compliance professional with more than a decade of experience at multiple global banks. The defendant is JPMorgan Chase – the largest bank in the U.S. which has been charged with five felony counts by the U.S. Department of Justice since 2014. Despite the bank’s unprecedented crime spree, federal regulators and the Board of Directors of JPMorgan Chase have allowed the same Chairman and CEO, Jamie Dimon, to continue to run the bank. “Williams charged in her lawsuit that JPMorgan Chase was keeping two sets of books and effectively making a monkey out of the U.S. Department of Justice by brazenly flouting the non-prosecution agreement it had signed with the Justice Department in a previous case. It came out in her deposition testimony, which is part of the court record, that one of the people being paid under her allegation of the bank keeping two sets of books was Tony Blair, the former Prime Minister of the U.K. (See our report: JPMorgan Whistleblower Names Former U.K. Prime Minister Tony Blair in Court Documents as Receiving ‘Emergency’ Payments from Bank.)” Williams’ lawsuit also charged that the bank retaliated against her protected whistleblowing activities by terminating her employment after she raised concerns about the improper payments. Like so many other federal lawsuits alleging brazen crimes at JPMorgan Chase, the Williams case ended up before Judge Jed Rakoff in the U.S. District Court for the Southern District of New York. And like so many other cases against JPMorgan Chase, Rakoff allowed the lawsuit to be settled with a vast array of documents remaining under seal. (See Judge Jed Rakoff Has Regularly Dined in the Past with the Chairman of the Law Firm that Just Got a Big Win in His Court in the JPMorgan Sex Trafficking Case.) Then there was the federal lawsuit brought by Donald Turnbull, a former trader on the precious metals desk at JPMorgan Chase. Turnbull alleged that the bank trumped up false charges against him as a pretext to terminate him when it was actually terminating him for cooperating with the Department of Justice’s investigation of illegal precious metals trading at the bank. Turnbull states in the lawsuit that the indicted traders received better benefits when they were released from employment than he did. Despite a seriously-ill wife, Turnbull alleges in the lawsuit that JPMorgan Chase cancelled his health insurance, did not pay him severance, and took away his unvested stock awards when they terminated him. This would also not be the first time that JPMorgan Chase has been alleged to have engaged in dodgy tactics to reduce the amount of capital it must hold. The Office of Financial Research (OFR) called the bank out for just such an issue in a June 2015 report. The Office of Financial Research was created under the Dodd-Frank financial reform legislation of 2010 to make sure that Wall Street megabanks would never again ravage the economy and financial system of the United States — as they did in 2008 – by engaging in reckless derivative trades and toxic bets. OFR describes its mission as follows: “Our job is to shine a light in the dark corners of the financial system to see where risks are going, assess how much of a threat they might pose, and provide policymakers with financial analysis, information, and evaluation of policy tools to mitigate them.” Buried in OFR’s June 2015 report was a bombshell. When JPMorgan Chase was initiating hundreds of billions of dollars in risky derivative trades in London in 2012, using deposits from its federally-insured bank in the U.S., it was attempting to engage in tricked-up capital relief trades. This outrageous gamesmanship resulted in $6.2 billion in losses at the bank; an investigation by the FBI; embarrassing Senate hearings; a scathing 300-page report by the U.S. Senate’s Permanent Subcommittee on Investigations; charges of engaging in “unsafe and unsound” banking practices by the Office of the Comptroller of the Currency; and the payment of $920 million in fines to its regulators. The OFR researchers wrote this in their June 2015 report: “Despite limited public data, post crisis, there is reason to believe banks continue to use credit derivatives for capital relief. JPMorgan Chase & Co.’s losses in the 2012 London Whale case were the result of CDS [Credit Default Swap] usage which was undertaken to obtain regulatory capital relief on positions in the trading book. SEC staff said in early 2015 they were evaluating potential transactions at other banks akin to those that resulted in JPMorgan’s losses. Additionally, banking regulators have observed that banks’ use of high-cost credit protection could only be economically viable if the cost of the risk weights on the asset in question were high. Specifically, the Federal Reserve said in a 2011 supervisory letter that regulators would scrutinize high-cost transactions and could disallow favorable regulatory capital treatment in some cases.” Clearly, JPMorgan Chase and its long-tenured Chairman and CEO, Jamie Dimon, believe they have nothing to fear from the U.S. court system, the Department of Justice, or their regulators.

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DOT, Alaska Air Slam Frontier's Bid To Halt DCA Slot Award (!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
by Gunnar Larson 31 Jan '25

31 Jan '25

*(!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)* DOT, Alaska Air Slam Frontier's Bid To Halt DCA Slot Award <https://www.law360.com/competition/articles/2290456?nl_pk=6e763a2a-9f82-44c…> By Ali Sullivan The U.S. Department of Transportation and Alaska Airlines Inc. are urging the D.C. Circuit to reject Frontier Airlines' emergency bid to block Alaska Airlines from offering direct flights from Ronald Reagan National Airport, just outside Washington, D.C., to San Diego, saying that halting the service would benefit no one. 2 documents attached | Read full article » <https://www.law360.com/competition/articles/2290456?nl_pk=6e763a2a-9f82-44c…> | Save to favorites » <https://www.law360.com/competition/articles/2290456?nl_pk=6e763a2a-9f82-44c…>

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BREAKING: Former Sen. Bob Menendez Gets 11 Years For Bribes, Abuse Of Power
by Gunnar Larson 31 Jan '25

31 Jan '25

BREAKING: Former Sen. Bob Menendez Gets 11 Years For Bribes, Abuse Of Power <https://www.law360.com/newyork/articles/2290369?nl_pk=b53aa520-5013-4a8d-a5…> By Pete Brush A Manhattan federal judge sentenced Robert Menendez to 11 years in prison Wednesday after a jury convicted the former senator from New Jersey of engaging in a lengthy, million-dollar course of bribery and corruption, saying his crimes merit "serious consequence." 4 documents attached | Read full article » <https://www.law360.com/newyork/articles/2290369?nl_pk=b53aa520-5013-4a8d-a5…> | Save to favorites » <https://www.law360.com/newyork/articles/2290369?nl_pk=b53aa520-5013-4a8d-a5…>

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Judge Tosses Bias Suit Over Deadlines, AI-Generated Filings
by Gunnar Larson 31 Jan '25

31 Jan '25

Judge Tosses Bias Suit Over Deadlines, AI-Generated Filings <https://www.law360.com/legalethics/articles/2288912?nl_pk=87c9365b-e736-431…> By Matt Perez A D.C. federal judge has dismissed the remaining age-discrimination claim in a lawsuit filed by former D.C. Department of Public Works employees after the remaining plaintiff failed to comply with discovery deadlines and submitted filings with inaccurate citations, further raising concerns about the use of AI-generated content. Memorandum attached | Read full article » <https://www.law360.com/legalethics/articles/2288912?nl_pk=87c9365b-e736-431…> | Save to favorites » <https://www.law360.com/legalethics/articles/2288912?nl_pk=87c9365b-e736-431…>

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Feds Want 10 Yrs. For Atty Over Attempted Embassy Bombing
by Gunnar Larson 31 Jan '25

31 Jan '25

Feds Want 10 Yrs. For Atty Over Attempted Embassy Bombing <https://www.law360.com/legalethics/articles/2289150?nl_pk=87c9365b-e736-431…> By Elliot Weld Federal prosecutors are seeking a 10-year prison sentence for a former Florida defense attorney who pled guilty to blowing up a sculpture in Texas and trying to bomb the Chinese Embassy in Washington, D.C., citing the extreme harm he was trying to inflict. Memorandum attached | Read full article » <https://www.law360.com/legalethics/articles/2289150?nl_pk=87c9365b-e736-431…> | Save to favorites » <https://www.law360.com/legalethics/articles/2289150?nl_pk=87c9365b-e736-431…>

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General Atomics Asks Musk Team To Reform Arms Acquisitions
by Gunnar Larson 31 Jan '25

31 Jan '25

General Atomics Asks Musk Team To Reform Arms Acquisitions <https://www.law360.com/governmentcontracts/articles/2289420?nl_pk=0fbf612f-…> By Gina Kim General Atomics Aeronautical Systems Inc.'s CEO published an open letter Monday to the U.S. Department of Government Efficiency, urging leader Elon Musk to refine the defense acquisition processes to bolster global security, making it the second letter sent to the newly created agency by a defense contractor proposing suggestions on reducing bureaucracy. Read full article » <https://www.law360.com/governmentcontracts/articles/2289420?nl_pk=0fbf612f-…> | Save to favorites » <https://www.law360.com/governmentcontracts/articles/2289420?nl_pk=0fbf612f-…>

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UnitedHealth Raises Cyberattack Estimate To 190M Individuals
by Gunnar Larson 31 Jan '25

31 Jan '25

UnitedHealth Raises Cyberattack Estimate To 190M Individuals <https://www.law360.com/health/articles/2289461?nl_pk=0f5983ea-0173-4e74-85e…> By Allison Grande A debilitating cyberattack last year that sabotaged vital billing and prescribing services operated by a UnitedHealth Group unit affected personal information belonging to roughly 190 million individuals, the health insurer disclosed Friday, nearly doubling its previous estimate of the scope of the incident. Read full article » <https://www.law360.com/health/articles/2289461?nl_pk=0f5983ea-0173-4e74-85e…> | Save to favorites » <https://www.law360.com/health/articles/2289461?nl_pk=0f5983ea-0173-4e74-85e…>

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Judge Tosses Bias Suit Over Deadlines, AI-Generated Filings
by Gunnar Larson 31 Jan '25

31 Jan '25

Judge Tosses Bias Suit Over Deadlines, AI-Generated Filings <https://www.law360.com/fintech/articles/2288912?nl_pk=31322029-63eb-4d40-ac…> By Matt Perez A D.C. federal judge has dismissed the remaining age-discrimination claim in a lawsuit filed by former D.C. Department of Public Works employees after the remaining plaintiff failed to comply with discovery deadlines and submitted filings with inaccurate citations, further raising concerns about the use of AI-generated content. Memorandum attached | Read full article » <https://www.law360.com/fintech/articles/2288912?nl_pk=31322029-63eb-4d40-ac…> | Save to favorites » <https://www.law360.com/fintech/articles/2288912?nl_pk=31322029-63eb-4d40-ac…>

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QXO Goes Hostile With $11B Beacon Roofing Takeover Bid
by Gunnar Larson 31 Jan '25

31 Jan '25

QXO Goes Hostile With $11B Beacon Roofing Takeover Bid <https://www.law360.com/mergersacquisitions/articles/2289130?nl_pk=34b724c6-…> By Jade Martinez-Pogue QXO Inc. on Monday lobbed a hostile takeover bid at Beacon Roofing Supply Inc., which previously rejected its acquisition proposal, announcing plans to launch an all-cash tender offer to purchase Beacon's remaining outstanding shares in a roughly $11 billion deal. Read full article » <https://www.law360.com/mergersacquisitions/articles/2289130?nl_pk=34b724c6-…> | Save to favorites » <https://www.law360.com/mergersacquisitions/articles/2289130?nl_pk=34b724c6-…>

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