Brazil's Totvs exits competitive process to buy StoneCo's Linx
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Brazilian software company Totvs has withdrawn from the competitive process to acquire StoneCo's unit Linx, as stated in a securities filing.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.
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