US: Roofing products distributor QXO has offered to acquire GMS for US$5bn and said it will proceed with a hostile takeover if GMS rejects or does not engage with the offer by 24 June 2025. In a letter submitting the offer, QXO said that the proffered sum is 27% above GMS's current 60-day volume-weighted average value. Alongside the production of gypsum wallboard, other gypsum products and steel framing, GMS also operates 300 distribution centres.
If the acquisition proceeds, it will bring QXO into the interior building materials production business for the first time. In the roofing distribution segment, it acquired Beacon Roofing Supply for US$11bn earlier in 2025.
