Boliden Confirms Talks to Acquire Majority Stake in Nexa Resources
NEXA has more than doubled off its 52-week low of $4.608.
Summary
Boliden has confirmed it is in discussions with Nexa Resources and its majority owner, Votorantim, regarding a potential acquisition of Votorantim's shares in Nexa. This news introduces significant M&A speculation for Nexa, as an acquisition of the majority stake could lead to a change of control or a full takeover. While Boliden noted there is no certainty a transaction will occur or on what terms, the confirmation of talks is a material development. Traders will be watching for further announcements regarding the progress of these discussions.
At the time of this announcement, NEXA was trading at $13.24 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $4.61 to $16.89. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: dpa-AFX.