Home Depot said its recently acquired subsidiary SRS Distribution will launch a cash tender offer to buy all outstanding shares of GMS Inc. for $110 each, valuing the wallboard and ceilings distributor at about $4.3 billion, or roughly $5.5 billion including debt. The price represents a premium of 36% to GMS’s closing level on 18 June, before takeover speculation surfaced. GMS shares jumped about 12% on the announcement, while Home Depot’s stock was little changed. The acquisition deepens Home Depot’s push into sales to professional contractors, following last year’s $18.25 billion purchase of SRS. Adding GMS will expand SRS’s footprint to more than 1,200 locations across the United States and Canada and give it a fleet exceeding 8,000 delivery trucks. Home Depot plans to fund the deal with a mix of cash and debt and expects to complete the transaction by the end of fiscal 2025, subject to regulatory approvals. SRS’s agreement ends a brief takeover contest with Brad Jacobs-backed QXO, which earlier this month offered about $95.20 a share, or $5 billion in cash, and warned it would pursue a hostile bid if rebuffed. QXO has since said it will not raise its offer. Home Depot is being advised by BofA Securities and JPMorgan.