QXO to Buy TopBuild in $17 Billion Building Products Deal

QXO Inc. said it’s acquiring insulation company TopBuild Corp. for about $17 billion, making QXO the second-largest publicly traded building products distributor in North America.

QXO’s offer values TopBuild at $505 per share, a 23% premium to the stock’s closing price of $410.31 on Friday. QXO plans to pay up to a cap of 45% of the aggregate transaction value in cash and offer up to 20.2 shares of its common stock for the remainder.