US Stock Market Move | QXO plans to acquire TopBuild at a premium of $1.7 billion. TopBuild stock (BLD.US) surged over 16%, while QXO stock (QXO.US) fell more than 8%.
On Monday, TopBuild (BLD.US) surged more than 16% to $476.57, while QXO Inc (QXO.US) dropped over 8% to $22.98.
On Monday, TopBuild (BLD.US) surged over 16% to $476.57, while QXO Inc (QXO.US) dropped over 8% to $22.98. On the news front, on April 19th, North American Construction Group Ltd. announced that it has reached a final agreement to acquire distributor giant QXO company for approximately $17 billion. TopBuild is the largest distributor of insulation materials and related building materials in North America. The deal has been approved unanimously by the boards of both companies, but still needs to meet customary closing conditions, including approval from shareholders of both companies. The deal is expected to be completed in the third quarter of 2026. It is worth noting that TopBuild's current market value is only $13.4 billion, lower than the $17 billion acquisition offer from QXO.
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