Totvs Withdraws from Bid for StoneCo's Linx

Reported about 12 hours ago

Brazilian software company Totvs announced its decision to withdraw from the competitive process to acquire StoneCo's unit Linx, as reported in a securities filing. The withdrawal comes after StoneCo was underwhelmed by the six non-binding offers received for Linx. Totvs had previously expressed interest in making a binding offer for Linx, which it attempted to acquire in 2020.

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