GMS to be acquired by Home Depot's SRS for $110/share, ~$5.5B enterprise value

GMS Inc.

Cash tender offer at $110/share, representing ~36% premium to GMS unaffected close on June 18, 2025.
Total enterprise value ~$5.5B; equity value ~$4.3B; expected to close by Jan 31, 2026.
GMS CEO John C. Turner Jr. and senior leadership to continue leading GMS as part of SRS.
Termination fees: Parent pays $230M if antitrust fails; GMS pays $147.5M for superior proposal or breach of no-shop.
Transaction funded by Home Depot through cash on hand and debt; no financing condition.

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