Gafisa S.A. (BOVESPA:GFSA3) made a proposal to acquire Tecnisa S.A. (BOVESPA:TCSA3) on August 19, 2020. Post completion, Tecnisa and Gafisa will be merged together. Part of the transaction includes Gafisa's request to alter Tecnisa's Bylaws and management.

Tecnisa S.A. will hold an extraordinary general meeting on September 10, 2020 to review the protection mechanism against dispersed ownership and to change rules regarding the sale of the controlling stake. As of September 11, 2020 the shareholders of Tecnisa have rejected the proposed transaction.