The high tender participation and stockholder election results remove key closing conditions; expect the merger to close on July 1 as indicated. QXO shares may see modest price action on deal completion, but the market has largely priced in the acquisition. Look for post-merger integration updates and synergy guidance.
Price Chart
Executive Summary
QXO announced the final results of its tender offers for TopBuild's notes and the stockholder election results for merger consideration, with 99.5%+ of notes tendered and 91% of TopBuild stockholders electing cash. The acquisition is expected to close on July 1, 2026, marking a major milestone in QXO's strategy to build a $50B revenue building products distribution business.
Key Facts
- $497.7M (99.54%) of TopBuild 4.125% 2032 notes and $748.1M (99.75%) of 5.625% 2034 notes were validly tendered
- Settlement expected July 1, 2026, contingent on closing of the TopBuild acquisition
- 91% of TopBuild stockholders elected cash consideration, with proration yielding ~$249.71 cash + 10.211 QXO shares per TopBuild share
- Early tender price was $1,011.25 per $1,000 principal; late tender price was $961.25 per $1,000
Financial Impact
Tender offers cover $1.25B aggregate principal of TopBuild notes; acquisition consideration is approximately $505 per TopBuild share or 20.200 QXO shares per share
Risk Factors
- Failure to satisfy any remaining closing conditions could delay or terminate the acquisition
- Post-merger integration risks and potential dilution from stock consideration
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-079101 |
| Document: tm2618991d6_ex99-1.htm | 0001104659-26-079101 |
| Document: tm2618991d6_ex99-2.htm | 0001104659-26-079101 |
| Document: 0001104659-26-079101-index-headers.html | 0001104659-26-079101 |
| Document: 0001104659-26-079101-index.html | 0001104659-26-079101 |
| Document: 0001104659-26-079101.txt | 0001104659-26-079101 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 23, 2026 10w ago | 8-K | $13.67 $13.76 | ▲ +0.66% | ▼ −2.97% | $12.16 (−11.04%) |
Jul 9, 2026 12w ago | 8-K | $14.58 $15.18 | ▲ +4.12% | ▲ +1.87% | $12.16 (−16.59%) |
Jul 1, 2026 13w ago | S-3ASR | $16.21 $13.46 | ▼ −16.96% | ▼ −16.55% | $12.16 (−24.98%) |
Jun 30, 2026 13w ago | 8-K | $17.28 $14.13 | ▼ −18.23% | ▼ −17.20% | $12.16 (−29.63%) |
Jun 29, 2026 13w ago | 8-K | $17.28 $14.13 | ▼ −18.23% | ▼ −17.20% | $12.16 (−29.63%) |
Jun 17, 2026 15w ago | 8-K | $17.76 $15.42 | ▼ −13.18% | ▼ −13.71% | $12.16 (−31.53%) |
Jun 12, 2026 16w ago | 8-K | $16.63 $14.99 | ▼ −9.86% | ▼ −11.64% | $12.16 (−26.88%) |
Jun 4, 2026 17w ago | 8-K | $45.23 $45.68 | ▲ +0.99% | ▼ −1.13% | $12.16 (−73.11%) |
Jun 2, 2026 17w ago | 8-K | $46.41 $47.36 | ▲ +2.05% | ▲ +3.61% | $12.16 (−73.80%) |
Jun 1, 2026 17w ago | EFFECT | $47.79 $48.74 | ▲ +1.99% | ▲ +3.29% | $12.16 (−74.55%) |
US Market Status
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