QXO Proposes to Acquire GMS for $95.20 Per Share in Cash

GREENWICH, Conn.--(BUSINESS WIRE)--QXO, Inc. (NYSE: QXO) today sent a proposal to the President and CEO of GMS Inc. (NYSE: GMS) to acquire all outstanding shares of GMS for $95.20 per share in cash. The proposal implies a total transaction value of approximately $5 billion and reflects a 27% premium over GMS’s 60-day volume-weighted average price of $74.82. “Our all-cash proposal to acquire GMS for $95.20 per share delivers immediate and certain value to GMS shareholders at a meaningful premium