Home Depot (NYSE: HD) has made a surprise bid for the building products distributor GMS Inc. (NYSE: GMS) after Brad Jacobs’ QXO (NYSE: QXO) made a $5 billion unsolicited offer for the Tucker, Georgia-based company.
The Wall Street Journal first reported Home Depot’s bid, although the price being offered was not revealed. Home Depot and QXO have been in competition for the construction supplies and tools market, with Home Depot acquiring SRS Distribution last year for $18.25 billion and QXO paying $11 billion for Beacon Roofing Supply earlier this year.
Neither Home Depot, GMS nor QXO publicly commented on the new bid. QXO set a June 24 deadline for GMS to reply to its solicitation.
Photo: Mike Mozart / Flickr Creative Commons
