Home Depot (HD) has made an offer for GMS Inc. (GMS), kicking off a potential bidding war with QXO (QXO), Lauren Thomas of Wall Street Journal reports, citing people familiar with the matter. The price Home Depot has privately discussed paying for GMS couldn’t be determined, the Journal adds. QXO on Wednesday announced that it submitted an unsolicited proposal to buy GMS for about $5B, of $95.20 per share in cash. Shares of GMS are up 20%, or $15.98, to $96.99 in premarket trading.
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