Mr João Cesconi

João Cesconi

Updates

Corporate Finance/M&A

Hostile dispute between Stone and TOTVS over merger with Linx
Brazil | 25 November 2020

The recent dispute between StoneCo Ltd and TOTVS SA over the acquisition of Linx SA has brought to light many important matters, especially directors' responsibility for damages caused to a company or its shareholders. TOTVS presented a hostile takeover offer, something which the Brazilian market is not used to since most companies have a controller group which owns 50% or more of the voting shares.