GMS shares jump on Home Depot-owned SRS Distribution's $4.3 bln buyout agreement

Shares of building products distributor GMS GMS.N jump 11% to $108.4 premarket after co enters into agreement to be acquired by Home Depot subsidiary SRS Distribution

Home Depot says SRS Distribution will acquire all outstanding shares of GMS common stock for $110 per share; offering a 13% premium to stock's last closing price

Deal valued at about $5.5 bln, including debt

Home Depot HD.N down 0.2% at $368

GMS' CEO and President John C. Turner Jr to lead co as part of the SRS organization

Earlier this month, billionaire Brad Jacobs' QXO QXO.N made an offer to acquire GMS for about $5 bln, saying it will proceed with a hostile takeover if co's management rejects the proposal

QXO shares up 0.9% on Monday

GMS is up 14.74% YTD