Business

TOTVS extends until October 13 the validity of the merger proposal with Linx

TOTVS made the offer in August, just days after the payments company Stone announced an agreement to acquire Linx

TOTVS headquarters in Sao Paulo
TOTVS headquarters in Sao Paulo. Photo: Aluísio Alves/Reuters
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  • The announcement was made on Friday;
  • TOTVS also reinforced the request for “all available proposals to be submitted to Linx shareholders simultaneously”, without explicitly mentioning Stone.

The Brazilian leader in management software development TOTVS announced on Friday that it extended the validity of the merger proposal with the retail management platform Linx for 30 days, until October 13.

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TOTVS made the offer in August, just days after the payments company Stone announced an agreement to acquire Linx.

In a relevant fact, TOTVS also stated that it agrees with the correction by the CDI of the installment to be paid per share of Linx, in the amount of BRL 6.20, as of the sixth month of the proposal.

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TOTVS also reinforced the request for “all available proposals to be submitted to Linx shareholders simultaneously”, without explicitly mentioning the rival proposal presented by the payment company Stone.