8 hours ago
QXO Offers to Buy Building Materials Company GMS for $5 Billion
QXO Inc. said it sent a letter to GMS Inc. proposing to buy the building products distributor for about $5 billion.
The offer of $95.20 a share represents a 27% premium to GMS's 60-day volume-weighted average price of $74.82, according to a statement Wednesday that included the letter from QXO Chief Financial Officer Ihsan Essaid to GMS Chief Executive Officer John Turner.
