Monitor regulatory approvals and shareholder votes in coming months; the deal's immediate earnings accretion and $300 million synergy target suggest strong integration potential. Watch for updates on financing structure as closing approaches in Q3 2026.
Price Chart
Executive Summary
QXO announced a definitive agreement to acquire TopBuild Corp. for $17 billion, creating the second-largest publicly traded building products distributor in North America with over $18 billion in combined revenue. The deal is structured to be immediately accretive to earnings and combines complementary businesses in insulation, roofing, and waterproofing.
Key Financial Metrics
Key Facts
- QXO will acquire TopBuild for approximately $17 billion in a combination of cash and stock
- The combined company will have over $18 billion in revenue and more than $2 billion in adjusted EBITDA
- The transaction is expected to close in Q3 2026 and is subject to shareholder and regulatory approvals
- TopBuild shareholders can elect to receive $505 in cash or 20.2 shares of QXO stock per share, with 45% cash consideration maximum
- The deal is projected to generate $300 million in run-rate EBITDA synergies by 2030 through technology and operational improvements
Financial Impact
The $17 billion acquisition will create a company with $18.1 billion in combined revenue and over $2 billion in adjusted EBITDA, with immediate earnings accretion to QXO and $300 million in projected synergies by 2030.
Risk Factors
- Regulatory or shareholder approval delays could impact closing timeline
- Integration challenges between the two corporate cultures
- Failure to realize projected $300 million in synergies by 2030
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001104659-26-045562 |
| Document: 0001104659-26-045562-index-headers.html | 0001104659-26-045562 |
| Document: 0001104659-26-045562-index.html | 0001104659-26-045562 |
| Document: 0001104659-26-045562.txt | 0001104659-26-045562 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 3, 2026 8w ago | Institutional Cluster | — | awaiting T+1 | — | — |
Jul 1, 2026 13w ago | 25-NSE | $354.53 $354.53 | · 0.00% | ▲ +0.13% | — |
Jun 29, 2026 13w ago | 8-K | $354.53 $354.53 | · 0.00% | ▲ +0.14% | — |
Jun 22, 2026 14w ago | 425 | $413.47 $407.41 | ▼ −1.47% | ▼ −0.01% | — |
Jun 22, 2026 14w ago | 8-K | $413.47 $407.41 | ▼ −1.47% | ▼ −0.01% | — |
Jun 22, 2026 14w ago | 425 | $413.47 $407.41 | ▼ −1.47% | ▼ −0.01% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $409.84 $411.08 | ▲ +0.30% | ▼ −0.24% | — |
Jun 4, 2026 17w ago | 425 | $401.82 $399.03 | ▼ −0.69% | ▼ −0.92% | — |
Jun 4, 2026 17w ago | 8-K | $401.82 $399.03 | ▼ −0.69% | ▼ −0.92% | — |
May 29, 2026 18w ago | DEFM14A | $412.19 $407.07 | ▼ −1.24% | ▼ −1.39% | — |
US Market Status
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