StoneCo increases Linx stake ahead of merger

StoneCo increases Linx stake ahead of merger

Capital Markets Corporate & Sovereign Strategy Equity M&A Brazil Latin America

Brazilian card payments company StoneCo has increased its stake in Linx to gain a vote on its prospective merger with the software developer after a months-long battle with rival bidder Totvs. Linx said in a securities filing on Monday that StoneCo had increased its stake to 5.81%, or roughly 11 million common shares, "in the context of the proposed incorporation." An acquisition that exceeds 4.9% of a company's shares requires approval from Brazil's anti-trust agency CADE. Linx accepted the tak

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