Business Wire·Jun 30, 2026, 8:00 AM ET

QXO and TopBuild Announce Stockholder Election Results for Merger Consideration

QXO, Inc. and TopBuild Corp. announced election results for merger consideration in QXO's acquisition of TopBuild following a June 29, 2026 deadline.
The parties expect the transaction to close on or about July 1, 2026, subject to customary closing conditions.
Eligible TopBuild stockholders could elect to receive either $505.00 in cash or 20.200 shares of QXO common stock per share of TopBuild stock.
Approximately 91.0% of TopBuild shares elected the cash consideration, triggering proration procedures that resulted in a final payout of approximately $249.71 in cash & 10.211 shares of QXO stock per share.
Approximately 1.4% of TopBuild shares explicitly elected the stock consideration.
Approximately 7.6% of TopBuild shares did not make a valid election & were deemed to have elected the stock consideration.
Stockholders entitled to fractional shares of QXO common stock will receive cash in lieu of those fractional shares.
QXO is described as the largest publicly traded distributor of roofing & waterproofing products & the second-largest distributor of lumber in North America.
TopBuild is North America's largest distributor & installer of insulation & related building products with over 450 locations.
Both companies issued cautionary statements regarding forward-looking information & risks associated with the proposed acquisition.