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We recently published As Wall Street Roars, These 10 Stocks Outshine. GMS Inc. (NYSE:GMS) is one of last week’s top performers.
GMS Inc. jumped by 11.73 percent on Monday to close at $108.75 apiece following its official $5.5-billion merger with Home Depot Inc., shunning QXO Inc.’s submitted bid.
After reviewing two offers GMS Inc. (NYSE:GMS) announced that it has accepted Home Depot’s acquisition offer, saying that it deemed its offer the best for the company and its shareholders.
The acquisition will be made through the Home Depot’s specialty trade distribution subsidiary, SRS Distribution.
Under the terms, a subsidiary of SRS will conduct a tender offer to acquire all outstanding shares of GMS common stock for $110 per share for a total of $5.5 billion.
“Following careful consideration of The Home Depot’s proposal, along with other potential opportunities for the company, our Board determined that this transaction is in the best interests of GMS and all of our shareholders. Not only does this outcome deliver significant and certain value to our shareholders, but it also has the added benefit of bringing GMS together with The Home Depot and SRS, where we are confident our employees will flourish, our customers and suppliers will benefit from our increased offerings and resources, and we will honor the legacy of our founders who made all of this possible,” said GMS Inc. (NYSE:GMS) Chairman John Gavin.
Meanwhile, John Turner Jr. will continue to be the company’s president and CEO as part of the SRS organization.
While we acknowledge the potential of GMS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
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.
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