GMS Inc. (GMS) shares soared 11.82 percent to $108.83 after announcing it had entered into a definitive agreement to be acquired by SRS Distribution, a specialty trade distribution subsidiary of The Home Depot. GMS opened at $108.10 and traded between $108.11 and $109.04 on Monday, touching a fresh 52-week high on the New York Stock Exchange. Trading volume surged to over 5.3 million shares, far exceeding the average of about 528,000, as investors reacted to the buyout news. Under the deal, SRS will launch a tender offer to purchase all outstanding GMS shares for $110.00 per share, valuing the enterprise at approximately $5.5 billion including net debt.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.