Overview

• SRS Distribution will pay $110 per share to acquire all outstanding GMS stock, valuing the equity at about $4.3 billion and the total enterprise at roughly $5.5 billion including net debt.
• The agreement ends an unsolicited bid from billionaire Brad Jacobs and his QXO unit, which had offered about $5 billion in cash and threatened a hostile takeover.
• Home Depot launched the acquisition to strengthen its professional segment and capture more sales from contractors and building professionals.
• Regulatory approvals are pending before the transaction closes in early 2026 under Home Depot’s integration plan for SRS and GMS.
• Shares of Home Depot edged up in early trading while GMS stock jumped more than 11% on the day of the announcement.