Boliden AB has agreed to acquire all of Votorantim S.A.'s shares in Nexa Resources S.A., taking a 64.68% stake in a share-for-share deal with total implied consideration of $1.310 billion. Votorantim will receive 0.250 newly issued Boliden shares for each Nexa share, or 21.4 million Boliden shares equal to about 7.0% of Boliden, implying $15.29 per Nexa share and premiums of 14.2% and 6.5% to recent 20-day volume-weighted averages. Closing needs Boliden shareholder and regulatory approvals and is expected in the first quarter of 2027, after which Boliden plans a voluntary tender offer for remaining minority shares and mandatory offers for certain Peruvian subsidiaries. Scotiabank has boosted its Nexa stock target to $15.00, signaling a 10.38% potential gain, while Halper Sadeh LLC has the deal under legal scrutiny and is investigating the transaction. The combination is expected to lift Boliden's earnings per share by more than 8% and expand zinc and silver operations across Europe and Latin America into a portfolio of 12 mining units and eight smelters.