(Reuters) -Home Depot said on Monday unit SRS Distribution has agreed to acquire specialty building products distributor GMS for about $4.3 billion.

Under the deal, SRS has offered $110 per GMS share. Including debt, the deal is valued at $5.5 billion, the company said.

Earlier this month, billionaire Brad Jacobs' new building-products distributor QXO made an offer to buy GMS for about $5 billion in cash and said it will proceed with a hostile takeover if the company's management rejects the proposal.

QXO did not immediately respond to a Reuters request for comment.

(Reporting by Savyata Mishra in Bengaluru; Editing by Sriraj Kalluvila)