TopBuild rises on closing SPI acquisition

** Shares of roofing materials maker TopBuild Corp BLD up 7.5% at $426

** Co acquires Specialty Products and Insulation (SPI) for $1 billion in cash

** TopBuild says transaction does not include SPI's metal building insulation business

** Co says transaction is immediately accretive to earnings per share

** Expects $35 mln to $40 mln in annual run-rate cost synergies

** Jefferies views TopBuild's $1 bln acquisition of SPI as a strategically strong move that enhances its commercial and industrial leadership, with compelling synergy potential and ~5% EPS accretion

** Including session gains, stock up ~36.8% YTD