QXO and TopBuild shareholders overwhelmingly approve acquisition deal

Key Facts

In a step that paves the way for a major acquisition in the building materials sector, QXO and TopBuild announced that stockholders of both companies overwhelmingly approved all proposals required for QXO's acquisition of TopBuild. Approximately 99% of votes cast at QXO's special meeting were in favor, according to a company statement.

The vote follows the deal's announcement earlier this year, as QXO aims to expand its presence in the insulation and construction materials market by acquiring TopBuild, which has a market capitalization of roughly $13 billion. Financial terms of the transaction have not been formally disclosed, but earlier reports valued the deal between $12 billion and $14 billion. At the June 26 close, BLD shares stood at $425.52, while QXO closed at $17.78, per market data.

Traders are now focused on the timeline for closing, expected in the second half of 2026 subject to regulatory approvals. Arbitrage opportunities remain limited given the lack of price details, but the shareholder vote reduces deal-risk. The market will watch for regulatory updates and any management commentary on financing.