Brazil's Linx hires BR Partners to advise on potential deal

SAO PAULO (Reuters) - Brazilian software firm Linx LINX3.SA has hired BR Partners to help it analyze acquisition proposals it has received from Totvs TOTS3.SA and StoneCo STNE.O, who have both entered a bidding war for the company.

Totvs said last week that it would offer to pay a fine of 100 million reais ($18.55 million) to Linx if Brazil’s antitrust agency Cade blocked a potential combination between the two firms.

According to Linx, an independent committee it has set up received notice of the proposal from Totvs on Friday.

Totvs' strategy was unveiled after Linx signed new terms of a binding business combination agreement with StoneCo STNE.O. [nFWN2FY0I4]

($1 = 5.39 reais)

Reporting by Paula Laier; Writing by Ana Mano; Editing by Paul Simao