Building materials company QXO is buying insulation company TopBuild in a deal worth about $17 billion, according to a press release.
ANNONS
The offer corresponds to $505 per share, a premium of 23 percent to Friday's closing price, and is financed with about 45 percent cash and the rest in shares. The deal is expected to be completed during the third quarter of 2026 and makes QXO the second-largest listed distributor of building products in North America.
The acquisition is part of CEO Brad Jacobs' strategy to build a company with revenue of $50 billion within ten years.
