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BMCH - Why BMC Stock Holdings and Builders FirstSource Jumped This Morning
BMC Stock Holdings Inc.
Shares of residential building products suppliers BMC Stock Holdings(NASDAQ: BMCH) and Builders FirstSource(NASDAQ: BLDR) were up as much as 24% and 10%, respectively, early this morning. As of 11 a.m. EDT, BMC remained up 20%, and Builders FirstSource eased back to a 6% gain. The moves follow an announcement today that the two companies have entered into an all-stock merger agreement.
Builders FirstSource is the country's largest supplier of structural building products, while BMC is a more regional supplier in the South and West. The combined companies have over $11 billion in sales.