91% of TopBuild Shareholders Elect Cash in QXO Merger, Proration Applied
QXO sits 21% above its 52-week low of $14.75 on elevated volume (1.8× avg).
Summary
QXO and TopBuild announced the results of TopBuild stockholders' elections for the $17 billion acquisition consideration. A significant 91.0% of TopBuild shareholders elected to receive cash, while 1.4% elected stock and 7.6% made no election (deemed stock). Due to proration, those electing cash will receive a mix of approximately $249.71 in cash and 10.211 shares of QXO common stock per TopBuild share. This follows QXO's extensive financing efforts and SEC filings related to the acquisition, which is now expected to close around July 1, 2026. The high cash election rate provides clarity on the final capital structure for QXO post-merger and the payout for TopBuild shareholders.
At the time of this announcement, QXO was trading at $17.91 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $12.9B. The 52-week trading range was $14.75 to $27.61. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.