Dwelling Depot could possibly be in a buyout battle.

The Wall Avenue Journal on Thursday reported that Dwelling Depot (HD), the home-improvement large, has made a proposal to accumulate GMS (GMS), a building-products distribution firm. The Journal, citing individuals conversant in the matter, didn’t specify a value; Seen Alpha lists the market capitalization of GMS at round $3.1 billion.

QXO (QXO), one other constructing merchandise distributor, on Wednesday stated it had supplied to purchase GMS for $95.20 per share in case, an 18% premium to Wednesday’s shut.

Shares of GMS soared 23% in premarket buying and selling Friday. They rose about 10% on Wednesday; inventory markets have been closed yesterday. Dwelling Depot’s shares have been lately slipped 0.5%, whereas QXO’s have been up practically 3%.

The supply “delivers immediate and certain value to GMS shareholders at a meaningful premium,” QXO CEO and Chairman Brad Jacobs said in a statement. “We consider this can be a compelling alternative for GMS traders to comprehend the complete worth of their shares in a single, decisive transaction.” QXO declined to touch upon the Journal’s report.

GMS on Thursday confirmed receipt of QXO’s supply and stated its board would evaluate it. The corporate didn’t reply to Investopedia’s request for touch upon the Journal’s report in time for publication.

Dwelling Depot final 12 months acquired SRS Distribution, which sells and distributes building supplies, for greater than $18 billion. The corporate declined to remark.