(RTTNews) - QXO Inc. (QXO) announced that it agreed to acquire TopBuild Corp. (BLD) for approximately $17 billion. The transaction is expected to be immediately and substantially accretive to QXO's earnings.
BLD closed at $410.31, up $22.20 or 5.72% as of April 17 . In overnight trading at 8:04:24 PM EDT, the stock rose further to $492.00, marking an increase of $81.69 or 19.91%.
TopBuild is a distributor and installer of insulation and related building products across North America. The boards of directors of both companies have unanimously approved the transaction, which remains subject to customary closing conditions, including shareholder approval. Closing is expected in the third quarter of 2026.
This acquisition follows QXO's recent purchase of Kodiak Building Partners on April 1, 2026, for approximately $2.25 billion. Upon completion of the TopBuild transaction, QXO will operate in an addressable market exceeding $300 billion and hold leadership positions in key building product verticals across North America.
Following the acquisition, QXO will employ approximately 28,000 people, operate 1,150 locations across all 50 U.S. states and seven Canadian provinces, and manage a fleet of more than 10,000 vehicles.
The agreement values each TopBuild share at $505, representing a premium of 19.8% to its 60-day volume-weighted average price and 23.1% to its closing price on April 17, 2026. Under the terms, TopBuild stockholders may elect to receive $505 in cash or 20.2 shares of QXO common stock per TopBuild share, subject to proration. The total consideration will be structured as approximately 45% cash and 55% QXO stock, with flexibility for QXO to increase the stock component if elections exceed 55%. Additionally, QXO will expand its board of directors to include one nominee from TopBuild.
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