Amended Association Agreement Represents a Compelling Opportunity for Linx Shareholders, with consideration increase to R$35.10/share, now a 47% premium to Linx unaffected1 VWAP 60-days
Reduction of maximum break-up fee to R$454million, equivalent to 7.2% of the transaction value
Revised terms for Non-Competition and Executive Engagement Agreements
New terms of the Association Agreement approved exclusively by Linx Independent Board Members, with abstention of votes by Linx Founding Shareholders
SÃO PAULO, Brazil, Sept. 01, 2020 (GLOBE NEWSWIRE) -- StoneCo Ltd. (NASDAQ:STNE) (“Stone”), a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels, today announces that it has entered into revised terms of a definitive agreement for STNE Participações S.A. (“STNE”), a controlled company of Stone that holds the software investments business of the Stone group in Brazil, to merge its business with Linx S.A. ((B3: LINX3, NYSE:LINX) (“Linx”), a leading provider of retail management software in Brazil (“Transaction”).