GMS Shares Surge 23% as QXO Plans $5 Billion Buyout, Home Depot May Join Bidding War

Tiger Newspress
06/20

GMS shares surged 23.4% in premarket trading on Friday.

Home Depot has made an offer for GMS Inc., potentially setting off a bidding war with QXO Inc. which this week made a $5 billion offer for the building-products distributor, the Wall Street Journal reported Thursday.

The offer from Home Depot, the world’s largest home-improvement retailer, is for an undetermined sum, the Journal said, citing people with knowledge of the matter.

The offer comes as QXO is proposing to buy Tucker, Georgia-based GMS for $95.20 per share in cash, according to a statement Wednesday. GMS confirmed it received the unsolicited proposal from QXO, and said its board will evaluate the offer. GMS closed Wednesday at $81.01 per share and finished last week at $76.03.

Both Home Depot and QXO are seeking to expand their share of the market for construction supplies and tools, betting a bigger entity with better technology can win business from more contractors, the Journal said.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10