GMS shares jump on Home Depot-owned SRS Distribution's $4.3 bln buyout agreement

GMS

30/06/2025 13:52

** Shares of building products distributor GMS GMS.N jump 11% to $108.4 premarket after co enters into agreement to be acquired by Home Depot subsidiary SRS Distribution

** Home Depot says SRS Distribution will acquire all outstanding shares of GMS common stock for $110 per share; offering a 13% premium to stock's last closing price

** Deal valued at about $5.5 bln, including debt

** Home Depot HD.N down 0.2% at $368

** GMS' CEO and President John C. Turner Jr to lead co as part of the SRS organization

** Earlier this month, billionaire Brad Jacobs' QXO QXO.N made an offer to acquire GMS for about $5 bln, saying it will proceed with a hostile takeover if co's management rejects the proposal

** QXO shares up 0.9% on Monday

** GMS is up 14.74% YTD

 (Reporting by Ankita Yadav in Bengaluru)

 ((Ankita.Yadav@thomsonreuters.com;))