04:37 AM EDT, 06/20/2025 (MT Newswires) -- (Updates with the stock move in the headline and the last paragraph.)

GMS (GMS) confirmed Thursday that it received an unsolicited proposal from QXO (QXO) to acquire the company for $95.20 per share in cash.

QXO said Wednesday that its offer represents a 27% premium to GMS' 60-day volume-weighted average price of $74.82. The proposal implies an overall deal value of about $5 billion, according to QXO.

GMS said its board of directors will review the offer and make a decision with the best interests of the company and its shareholders.

Separately, multiple media publications reported that Home Depot ( HD ) has also submitted an unspecified bid for GMS.

Home Depot ( HD ) didn't immediately respond to a request for comment by MT Newswires.

GMS shares were up 23% in recent premarket activity Friday, while QXO rose 5.3%. Home Depot ( HD ) was down 0.3%.