BLD TopBuild Corp
Price Chart
Executive Summary
TopBuild Corp. has agreed to be acquired by QXO in a $17 billion transaction, combining two major building products distributors. The deal includes a 19.8% premium and follows an executive departure, creating a mixed signal of strategic growth and leadership transition.
Key Financial Metrics
Actionable Insight
Monitor for regulatory approval and shareholder votes, while watching for integration challenges given the recent executive departure. The 19.8% premium suggests QXO sees significant synergies, but the leadership transition adds execution risk.
Key Facts
- QXO to acquire TopBuild for $17 billion
- Transaction values each TopBuild share at $505, representing a 19.8% premium to the 60-day volume-weighted average price
- Joseph M. Viselli, Vice President and Chief Growth Officer, announced retirement effective June 30, 2026, just 3 days before this merger announcement
- The deal is structured as 45% cash and 55% stock, with potential for more stock if TopBuild shareholders elect it
- QXO will pay a $600 million termination fee if the deal fails under certain conditions
Financial Impact
The transaction values TopBuild at $17 billion, with a 19.8% premium to its 60-day average price. The deal structure includes $7.65 billion in cash and $9.35 billion in QXO stock.
Risk Factors
- Regulatory approval risk for a $17 billion merger in the construction sector
- Integration risk following the departure of a key growth executive
- Potential for shareholder litigation given the premium and termination fee
Market Snapshot
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-045245 |
| Document: bld-20260418xex99d1.htm | 0001104659-26-045245 |
| Document: bld-20260418xex10d1.htm | 0001104659-26-045245 |
| Document: bld-20260418x8k.htm | 0001104659-26-045245 |
| Document: 0001104659-26-045245-index-headers.html | 0001104659-26-045245 |
| Document: 0001104659-26-045245-index.html | 0001104659-26-045245 |
| Document: 0001104659-26-045245.txt | 0001104659-26-045245 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 11, 2026
1d ago
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Institutional Cluster
| $393.59 awaiting T+5 | awaiting T+5 | — | $411.08 (+4.44%) |
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Jun 5, 2026
7d ago
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ANALYST-DOWNGRADE
| $438.93 $408.84 | ▲ +6.86% | ▲ +8.03% | $411.08 (+6.34%) |
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Jun 5, 2026
7d ago
|
ANALYST-DOWNGRADE
| $438.93 $408.84 | ▲ +6.86% | ▲ +8.03% | $411.08 (+6.34%) |
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Jun 4, 2026
8d ago
|
425
| $405.25 awaiting T+5 | awaiting T+5 | — | $411.08 (+1.44%) |
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Jun 4, 2026
8d ago
|
8-K
| $405.25 awaiting T+5 | awaiting T+5 | — | $411.08 (+1.44%) |
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May 29, 2026
14d ago
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DEFM14A
| $412.19 $401.82 | ▼ −2.52% | ▲ +0.23% | $411.08 (−0.27%) |
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May 21, 2026
22d ago
|
ANALYST-DOWNGRADE
| $469.92 $435.15 | ▼ −7.40% | ▼ −8.48% | $411.08 (−12.52%) |
|
May 16, 2026
27d ago
|
ANALYST-UPGRADE
| $404.33 $443.31 | ▲ +9.64% | ▲ +7.72% | $411.08 (+1.67%) |
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May 11, 2026
4w ago
|
425
| $424.63 $406.29 | ▼ −4.32% | ▼ −4.23% | $411.08 (−3.19%) |
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May 6, 2026
5w ago
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ANALYST-DOWNGRADE
| $438.93 $416.79 | ▲ +5.04% | ▲ +6.17% | $411.08 (+6.34%) |
US Market Status
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