QXO intends to acquire TopBuild for $17 billion. TopBuild surged over 16% while QXO plummeted more than 8%.

TopBuild soared more than 16% on Monday, closing at $476.57; QXO Inc fell over 8%, closing at $22.98. On the news front, on April 19th, North American building products distribution giant QXO Company announced that it had reached a final acquisition agreement to acquire TopBuild Company for approximately $17 billion. Public information shows that TopBuild is the largest distributor of insulation materials and related building materials in North America. The transaction has already been approved unanimously by the boards of directors of both companies, but still needs to meet customary closing conditions, including shareholder approval from both companies, and is expected to be completed in the third quarter of 2026. It is worth noting that TopBuild's current market value is only $13.4 billion, lower than the $17 billion acquisition offer from QXO.