05:14 PM EDT, 04/22/2024 (MT Newswires) -- TopBuild ( BLD ) said Monday it agreed to cancel the acquisition of Specialty Products and Insulation.

The companies "were not able to agree to terms at a value that worked for both parties and that would be likely to obtain regulatory approval within the Department of Justice's view of the metal building insulation business," TopBuild ( BLD ) said in announcing the accord for the mutual termination.

TopBuild ( BLD ) said it paid a termination fee of $23 million.

Shares of TopBuild ( BLD ) fell 3.8% in after-hours activity.