Key facts
- QXO Inc. and TopBuild Corp. investor shareholders approved QXO's acquisition of TopBuild.
- Approximately 99% of QXO votes cast supported issuing QXO common stock for the transaction.
- About 78% of TopBuild votes cast favored the merger agreement.
- The $17 billion acquisition is expected to close on or around July 1, 2026.
- TopBuild will be QXO's third acquisition since its founding in 2023.
- The deal combines QXO, a major distributor of roofing and building products, with TopBuild, a leading distributor and installer of insulation.
Shareholders of both QXO Inc. and TopBuild Corp. have overwhelmingly approved QXO's $17 billion acquisition of TopBuild, a crucial step toward finalizing one of the largest recent combinations in the North American building products and insulation sectors. At QXO's special meeting, approximately 99% of the votes cast supported the issuance of QXO common stock to finance the deal. TopBuild shareholders also favored the merger agreement, with about 78% of votes cast in favor, representing roughly 65% of all outstanding shares. The transaction, initially announced in April, is now anticipated to close on or around July 1, 2026, subject to standard closing conditions. This acquisition will mark TopBuild as QXO's third acquisition since its establishment in 2023. The combined entity will merge QXO, a leading distributor of roofing, waterproofing, and building materials, with TopBuild, the largest distributor and installer of insulation and related products in North America. QXO aims to achieve $50 billion in annual revenue within several years by consolidating the fragmented $800 billion building products distribution industry, with the TopBuild acquisition serving as a significant milestone. TopBuild operates over 450 locations across the U.S. and Canada, serving residential, commercial, and industrial markets. For homebuilders, this consolidation could impact material costs and the availability of specialized systems for various construction projects.