GREENWICH, Conn. -- (BUSINESS WIRE)-- QXO, Inc. (QXO) today sent a proposal to the President and CEO of GMS Inc. (GMS) to acquire all outstanding shares of GMS for $95.20 per share in cash.

(RTTNews) - GMS Inc. (GMS), a specialty building products distributor, confirmed Thursday that it has received an unsolicited takeover proposal from QXO, Inc. (QXO) for $95.20 per share in cash.

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GMS confirmed it received the unsolicited proposal from QXO, and said its board will evaluate the offer. GMS closed June 18 at $81.01 per share and finished last week at $76.03.

A subsidiary of Home Depot's SRS Distribution unit "will commence a cash tender offer to purchase all outstanding shares of GMS common stock for $110 per share," the home-improvement giant said. Home ...

QXO, Inc. (NYSE:QXO) is one of the 10 Best Growth Stocks to Buy With Huge Upside Potential. On June 18, QXO, Inc. (NYSE:QXO) made an offer to acquire GMS Inc. (NYSE:GMS) for about $5 billion in ...

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Home Depot is buying specialty building products distributor GMS for $4.3 billion, the second notable acquisition in a little over a year that emphasizes a deliberate push by the home improvement ...

GMS does not intend to comment further on QXO’s unsolicited proposal until the Board has completed its review. GMS shareholders do not need to take any action at this time.

Home Depot, based in Atlanta, moved quickly to acquire GMS, putting in its own bid less than two weeks after the company QXO offered $5 billion, according to a regulatory filing.

However, on June 30 GMS Inc. (NYSE: GMS) announced entering into an agreement with The Home Depot to be acquired by SRS Distribution for approximately $5.5 billion. Thereby kicking QXO, Inc. (NYSE:QXO ...