secwatch.observer — SEC 8-K summary
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Issuer:     QXO, Inc. (QXO)
CIK:        0001236275
Form:       8-K
Filed at:   2026-04-20T23:59:59+00:00
Accession:  0001104659-26-045111
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QXO to acquire TopBuild for ~$17B in cash/stock, creating #2 building products distributor
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- QXO to acquire TopBuild for ~$17B; each TopBuild share gets $505 cash or 20.2 QXO shares (45% cash/55% stock mix).
- Combined company >$18B revenue, >$2B adj. EBITDA; expected to be immediately accretive to QXO earnings.
- Transaction expected to close Q3 2026; subject to shareholder approvals, HSR clearance, and other conditions; termination fee $600M.
- QXO secured $3B term loan and $3B bridge financing from Morgan Stanley, Wells Fargo, Barclays; voting agreement with Jacobs Private Equity.
- Upon closing, QXO to hold #1 in insulation, #2 in roofing, #1 in waterproofing, top positions in lumber/BMS.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1236275/000110465926045111/0001104659-26-045111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1236275/000110465926045111/tm2612209d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-045111

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer