RIO DE JANEIRO (Reuters) - Brazilian software firm Totvs SA TOTS3.SA has extended until Oct. 13 the validity of a tie-up proposal with competitor Linx SA LINX3.SA, it said in a securities filing on Friday night.
It added that it was modifying its proposal such that it would pay 6.20 reais ($1.17) per share of Totvs starting on the sixth month of the proposed timeline of the tie-up.
Totvs and competitor StoneCo Ltd STNE.O are currently in a bidding war for the firm.
Reporting by Gram Slattery; Editing by Sandra Maler
Our Standards: The Thomson Reuters Trust Principles.