Boliden agrees to take control of Nexa Resources

Boliden will issue 0.250 of its shares for each Nexa share held by Votorantim, taking 64.68% for about $1.31bn, a 14.2% premium to the 20-day average. It then plans a cash tender offer to Nexa’s public minority. Closing is expected in the first quarter of 2027.

Why it matters. Buying out a controlling holder first and the minority second is a common route when a target has a dominant shareholder.

Source

Mining Technology

In the course

Module 9: The M&A process