Home Depot Seeks to Buy GMS in Challenge to QXO, WSJ Says (2)

Home Depot Inc. has made an offer for GMS Inc., potentially setting off a bidding war with QXO Inc. which this week made a $5 billion offer for the building-products distributor, the Wall Street Journal reported Thursday.

The offer from Home Depot, the world’s largest home-improvement retailer, is for an undetermined sum, the Journal said, citing people with knowledge of the matter.

Shares of GMS rose as much as 32% in premarket trading on Friday. If premarket gains hold, the stock will be set for its biggest rise on record. QXO stock rose 2.2% in premarket trading while Home ...