TopBuild Corp. (NYSE:BLD) stock is trading higher Tuesday morning after the company and QXO, Inc. (NYSE:QXO) announced the stockholder election results for their merger consideration.

Stockholder Election Breakdown

TopBuild stockholders could elect to receive either $505.00 in cash or 20.200 shares of QXO common stock for each TopBuild share. Stockholders representing approximately 91.0% of outstanding shares elected the cash option. Stockholders representing 1.4% chose stock, while 7.6% made no valid election.

Proration Procedures Applied

Due to high cash demand, the merger agreement's proration procedures converted the cash-electing shares into approximately $249.71 in cash and 10.211 shares of QXO common stock for each share of TopBuild common stock, subject to final exchange agent calculations. The companies stated they expect the transaction to close on or about Wednesday. The completion remains subject to the satisfaction or waiver of customary closing conditions.

Overview of Merging Entities

TopBuild operates as North America's largest distributor and installer of insulation and related building products. QXO acts as a large distributor of roofing, waterproofing, lumber, and building materials, targeting $50 billion in annual revenue within the next decade.

TopBuild (BLD) Key Levels To Watch

Even with Tuesday's pop, BLD is still trading below every major trend gauge: about 7.6% below its 20-day SMA ($408.62) and roughly 11.9% below its 200-day SMA ($428.27). That "below-the-stack" setup usually means rallies can face supply quickly, because prior support often turns into resistance.

The crossover picture also leans defensive: the 20-day SMA is below the 50-day SMA, and the stock is still living with the death cross that formed in April (50-day SMA below the 200-day SMA). In plain terms, that combination tends to keep longer-term trend followers cautious until price can reclaim the mid-$400s and hold.

• Key Resistance: $425.50 — near a prior pivot area and close to the cluster of longer-term moving averages where rebounds can stall
• Key Support: $333.50 — a nearby floor closer to the lower end of the 52-week range where buyers previously showed up

BLD Price Action: TopBuild shares were up 1.73% at $366.01 at the time of publication on Tuesday, according to market data.