Jun. 23 at 9:53 PM
$BLD ,
$QXO: "Toast Inc. (NYSE:
$TOST) will replace TopBuild Corp. (NYSE:
$BLD) in the S&P MidCap 400 effective prior to the opening of trading on Wednesday, July 1.
$QXO Inc. (NYSE:
$QXO) is
acquiring TopBuild in a deal expected to close soon, pending final closing conditions." https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20260623-1484127/1484127_hon-jhg-bld-ari-1546.pdf
They are literally taking
$BLD out of the S&P 400 next week, but
$BLD stock closed at
$407.41 when 45 percent of shareholders are getting a cash buyout price of
$505 per share. Congrats to
$TOST investors on their index inclusion, but why would
$BLD be removed if there was any chance this deal wasn't going through? It's also strange
$BLD is trading so far below the buyout price today, especially considering it was trading in the
$550S on the announcement?
Any idea when arb traders are going step back and "allow"
$BLD to move back up closer to the actual
$505 price? 25-30 percent off seems like a bit much when
$BLD is getting removed from indexes next week. :) TIA.
