QXO’s $17 billion offer to acquire TopBuild went before both companies’ shareholders, earning necessary approvals before the deal is scheduled to close on or around July 1.

The distributors announced the results following their respective special meetings, which were held on June 29.

Provided that the acquisition’s terms are met, the deal is expected to proceed.

Results from QXO and TopBuild votes to approve acquisition

QXO and TopBuild characterized shareholders’ approval as “overwhelming” in the results shared after voting had taken place. In the case of QXO, 99% of votes favored the deal. Meanwhile, 78% of votes at TopBuild’s special meeting favored adopting the merger. The votes represented about 65% of outstanding TopBuild shares, according to the company.

“Once we close the TopBuild deal, which is expected in the third quarter, QXO will be the second largest publicly traded building products distributor in North America,” said Brad Jacobs, chairman and chief executive officer at QXO, when the roofing distributor shared its fiscal Q1 earnings results in May.

Jacobs noted that QXO would “remain firmly on track to achieve $50 billion in annual revenue within a decade.” It sees both acquisitions and organic growth making that revenue increase possible.

QXO’s position ahead of closing the TopBuild merger

QXO rolled out its Q1 2026 earnings results in the wake of closing its $2.25 billion Kodiak Building Partners acquisition. In addition, QXO continued to integrate Beacon Roofing, which it acquired in an $11 billion deal in 2025.

“Our first quarter results reflect the softness we’re seeing in the building products industry, and our investments in the business, including people and technology,” Jacobs said. “Operationally, we continue to execute our integration plan across the legacy Beacon business, supported by disciplined investments in technology, sales capacity, and other long-term initiatives.”

During the quarter ended on March 31, QXO recorded net sales of $1.73 billion. Its acquisitions strategy helped grow that total from $13.5 million during the same quarter a year earlier.

In the meantime, QXO also reported an adjusted net loss of $57.2 million for the quarter. Its net margin contracted by 13.1% from a year ago as it pursued growth through mergers.

At the time, QXO maintained that it expected the deal to close sometime during its third quarter.

TopBuild, which distributes and installs insulation, along with other building products, operates 450 locations across the United States and Canada, according to its official count. It serves residential, commercial and industrial customers. For roofing specifically, it supplies specialized systems, catering to airports, stadiums and warehouses and more.

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