QXO to Acquire TopBuild for $17 Billion in Cash and Stock, Offering Significant Premium to Shareholders

summarizeSummary

TopBuild Corp. has entered into a definitive merger agreement to be acquired by QXO, Inc. for approximately $17 billion, with shareholders receiving $505.00 per share in a cash and stock transaction.

check_boxKey Events

• Definitive Merger Agreement

  QXO, Inc. will acquire TopBuild Corp. for approximately $17 billion, as per a definitive merger agreement signed on April 18, 2026. This follows the Reuters news report on April 19, 2026, providing official terms.

• Shareholder Consideration

  TopBuild shareholders can elect to receive $505.00 in cash or 20.200 shares of QXO common stock for each TopBuild share, subject to proration, with the total consideration split approximately 45% cash and 55% stock. The offer price represents a 23.1% premium to TopBuild's closing price on April 17, 2026.

• Board Approvals

  The boards of directors of both TopBuild and QXO have unanimously approved the Merger Agreement and recommended it to their respective shareholders.

• Anticipated Synergies

  QXO expects to achieve approximately $300 million in run-rate EBITDA synergies by 2030 from the integration of TopBuild.

auto_awesomeAnalysis

This filing officially confirms the definitive merger agreement for QXO to acquire TopBuild Corp. for approximately $17 billion, following the Reuters news report yesterday. The transaction offers TopBuild shareholders a substantial premium of 23.1% over the stock's closing price on April 17, 2026, with an election for cash or QXO stock. This is a transformational event for TopBuild, as it will become a wholly-owned subsidiary of QXO, fundamentally altering its investment thesis. The combined entity is projected to become a major player in the building products distribution industry, with significant anticipated synergies and expanded market leadership.