GSD giant GMS Inc., of Tucker, Ga., which has a major Canadian operation, is facing a reported two takeover offers. First, shortly after GMS reported its fourth-quarter and year-end results on Wednesday, Brad Jacobs, chairman and CEO of QXO, Inc., sent an unsolicited proposal to the president and CEO of GMS, offering to acquire all outstanding shares of GMS for US$95.20 each. The total transaction would be approximately $5 billion. The offer reflected a premium of 27 percent on GMS’s 60-day volume weighted average per-share price of $74.82, Jacobs wrote.
Then, the Wall Street Journal reported late yesterday afternoon that Home Depot has made an offer for GMS as well, “kicking off a potential bidding war between the home improvement giant and serial dealmaker Brad Jacobs.”
