QXO falls after $17 bln TopBuild acquisition deal

QXO

20/04/2026 10:27

** QXO QXO.N shares slip 2.4% to $24.38 premarket

** construction supplies distributor to buy building products distributor and installer TopBuild BLD.N, $17 billion deal to make QXO second-largest building products distributor in North America

** BLD shareholders can elect to receive $505 or 20.2 QXO shares per BLD share

** $505 represents a 23.1% premium to BLD 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 - QXO CEO Brad Jacobs, regarded an M&A specialist

** All 16 analysts covering stock rate it "buy" or higher; median PT at $30 - LSEG data

** QXO up 29.6% YTD at last close

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))