Brazil's Linx shareholders approve deal with StoneCo

  • 11/18/2020
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SAO PAULO (Reuters) - Brazilian software firm Linx SA"s LINX3.SA shareholders backed a takeover offer from StoneCo Ltd STNE.O, its chief executive said on Tuesday, paving the way for the U.S.-listed card processor to offer its business clients additional services. The vote ends a bidding war that started August pitting StoneCo against Brazilian software firm Totvs SA TOTS3.SA. StoneCo raised its offer on Tuesday and proposed to pay 33.56 reais plus 0.0126774 Stone Class A common share per Linx share, raising the deal’s value to 6.8 billion reais ($1.28 billion).

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