TopBuild jumps after QXO to buy co in $17 billion deal

QXO

20/04/2026 12:41

Updates

** Shares of building products distributor and installer TopBuild BLD.N jump 18.3% to $485.4 premarket

** QXO QXO.N to buy BLD in $17 billion deal to make it second-largest publicly traded building products distributor in North America

** QXO shares slip 4.4% to $23.9 premarket

** BLD shareholders can elect to receive $505 in cash or 20.2 QXO shares in exchange of BLD share

** $505 represents 23.1% premium to BLD's Friday close

** QXO market capitalization at $18.08 billion, as of Friday's close; BLD at $11.55 billion - data compiled by LSEG

** Deal to expand exposure to large, complex projects like data centers, says QXO CEO Brad Jacobs, regarded M&A specialist

** YTD, QXO up 29.6% and BLD down about 1.7%, as of last close

 (Reporting by Tharuniyaa Lakshmi and Parth Chandna in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))