💨 Abstract
Brazilian software company Totvs has withdrawn from the competitive process to buy StoneCo's software unit Linx, citing a securities filing. Six non-binding offers had been received by StoneCo for Linx, but it was reportedly unimpressed by them. Totvs had previously tried to acquire Linx in 2020, but the deal ended with StoneCo. No further details were provided by Totvs regarding the decision to withdraw.
Courtesy: theprint.in
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