GMS Inc (GMS) Soars 31.88% W/W as 2 Building Giants Engage in Bidding War

GMS Inc. (NYSE:GMS) is one of the Double-Digit Winners: 10 Stocks Crushing The Market.

GMS Inc. (NYSE:GMS) jumped by 31.88 percent week-on-week to finish at $100.27 versus the $76.03 on June 13, as investors snapped up shares following news that it was being targeted for acquisition by two home building giants.

Last week, GMS Inc. (NYSE:GMS) confirmed receipt of QXO Inc.’s (NYSE:QXO) offer to acquire the company, saying that it will review the bid and make a decision that aligns with the best interests of the company and its shareholders.

Meanwhile, The Wall Street Journal reported that Home Depot also offered to acquire GMS Inc. (NYSE:GMS), making it the second firm to bid for GMS Inc. (NYSE:GMS) and engage in a bidding war with QXO Inc. (NYSE:QXO). Home Depot, however, declined to comment on the acquisition reports.

Founded in 1971, GMS operates a network of more than 320 distribution centers and operates nearly 100 tool sales, rental, and service centers across the United States and Canada.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.