QXO, TopBuild shareholders vote to approve acquisition

QXO’s $17 billion offer to acquire TopBuild went before both companies’ shareholders, earning necessary approvals before the deal is scheduled to close on or around July 1. The distributors announced the results following their respective special meetings, which were held on June 29.

Provided that the acquisition’s terms are met, the deal is expected to proceed. Results from QXO and TopBuild votes to approve acquisition QXO and TopBuild characterized shareholders’ approval as “overwhelming” in the results shared after voting had taken place. In the case of QXO, 99% of votes favored the deal.

Meanwhile, 78% of votes at TopBuild’s special meeting favored adopting the merger. The votes represented about 65% of outstanding TopBuild shares, according to the company.

“Once we close the TopBuild deal, which is expected in the third quarter, QXO will be the second largest publicly traded building products distributor in North America,” said Brad Jacobs, chairman and chief executive officer at QXO, when the roofing distributor shared its fiscal Q1 earnings results in May.

Jacobs noted that QXO would “remain firmly on track to achieve $50 billion in annual revenue within a decade.” It sees both acquisitions and organic growth making that revenue increase possible. News QXO to acquire TopBuild for $17 billion Abbas Haleem | Apr 19, 2026