Mergers & Acquisitions ·
QXO completes acquisition of TopBuild for $249.67 cash plus 10.212 shares per share, adding $3B debt
BLDQXO Insulation, LLC
QXO, Inc. completed its acquisition of TopBuild Corp., which was renamed QXO Insulation, LLC. TopBuild stockholders of record representing approximately 91.0% of outstanding shares elected to receive a combination of $249.67 in cash and 10.212 QXO common stock shares per TopBuild share. The transaction involved significant debt restructuring, including $1.5 billion in 6.500% senior notes due 2031 and $1.5 billion in 6.875% senior notes due 2034, alongside a $3.0 billion incremental term loan facility. QXO Insulation, LLC operates in the building products and insulation industry.