News

Shares of QXO have tumbled nearly 15% this week, following news that the company planned to buy insulation distributor and installer TopBuild for $17 billion.

QXO just announced its third major acquisition as it continues to grow its building supply distribution empire.

QXO agreed to acquire TopBuild in a roughly $17 billion cash-and-stock transaction, positioning the combined company as a leading North American distributor. The QXO TopBuild acquisition offers $505 per share in cash or 20.2 QXO shares, with consideration capped at 45% cash and 55% stock. This cash-and-stock deal would create the second-largest publicly traded building products distributor, with more than $18 billion in revenue and over $2 billion in adjusted EBITDA. Both boards approved the transaction, which carries a 23.1% premium to TopBuild’s April 17 closing price and is expected to close in the third quarter of 2026 pending shareholder approval. The combined business targets about $300 million in synergies by 2030 and will operate roughly 1,150 sites across the U.S. and Canada.

QXO (NYSE:QXO) has announced a $17b acquisition of TopBuild, a move that will combine two large players in building products distribution. The transaction is expected to make QXO the second largest publicly traded building products distributor in North America and broaden its reach into insulation distribution and installation. Management highlights an expected immediate, substantial accretive impact on earnings and meaningful cost and revenue synergies from the combined business. For...