Brazil's Totvs exits competitive process to buy StoneCo's Linx

Reuters
2025.02.27 22:14
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Brazilian software company Totvs has withdrawn from the competitive process to acquire StoneCo's unit Linx, as stated in a securities filing. The decision comes after StoneCo reportedly found the six non-binding offers it received unsatisfactory. Totvs had previously expressed interest in Linx, having attempted to acquire it in 2020 before StoneCo succeeded.

SAO PAULO, Feb 27 (Reuters) - Brazilian software company Totvs (TOTS3.SA) said on Thursday it has decided to withdraw from the competitive process to buy StoneCo’s (STNE.O) unit Linx, according to a securities filing.

Totvs did not provide further details on the decision.

Citing sources, Reuters reported that payment firm StoneCo was unimpressed by the six non-binding offers it had received so far for Linx, its software unit.

Earlier this year, Totvs said it was still studying whether to present a

binding offer

for Linx, which Totvs had tried to buy in 2020 before it ended with StoneCo.

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