QXO, Inc. (NYSE:QXO) made a $5 billion cash offer to acquire GMS Inc. (NYSE:GMS) on June 18. However, GMS Inc. announced entering into an agreement with The Home Depot to be acquired by SRS Distribution for $5.5 billion on June 30, outbidding QXO, Inc.’s proposal.

Home Depot wins bidding war against QXO Inc (QXO), acquires GMS Inc (GMS) for $5.5 billion, including debt. The deal will result in Home Depot acquiring GMS common stock for $110 per share, outbidding QXO, Inc.’s $95.20 per-share offer.

While QXO, Inc. (NYSE:QXO) offers technology solutions to various sectors, Home Depot’s acquisition of GMS Inc. (GMS) for $5.5 billion outbids QXO, Inc.’s proposal. The potential of QXO as an investment is acknowledged, but certain AI stocks may offer greater upside potential.

Read more at Yahoo Finance.: Home Depot Wins the Bidding War Against QXO Inc (QXO), Acquires GMS Inc (GMS)