QXO agrees to $17B TopBuild buy

QXO (NYSE: QXO) has agreed to acquire insulation company TopBuild for $17 billion in cash and stock, the companies announced on Monday.

Why it's the BFD: The construction materials space has seen a flurry of M&A, with data center buildouts and energy needs driving the activity.

The big picture: This is QXO's largest deal yet, with the company now over a third of the way to hitting its goal of $50 billion in revenue via M&A and organic growth.

• TopBuild will give the company scale and expand "our exposure to large, complex projects like data centers," QXO CEO Brad Jacobs said in a statement.