Brazil Merger and Acquisition Disclosures API: Track Incorporação and Deal Notices from CVM Filings

The problem

Brazilian M&A monitoring splits into three stacks that English search results often merge:

1. Market and news — price, premium, rumored targets. Useful for trading, not for the filing text that defines consideration, conditions, and regulatory references.
2. Periodic diligence — contingencies, related parties, and contracts in DFP, ITR, and FRE. Essential for dataroom-style review, but lagging for new deals.
3. Event disclosures — fatos relevantes when a board approves an acquisition, a JV closes, or a spin-off is announced, plus avisos aos acionistas when assemblies frame the transaction for holders.

Scraping the CVM portal works for one ticker and breaks on a multi-name watchlist. Bulk open-data ZIPs are dataset-oriented, not ticker-first. You want GET /v1/documents with stable document.id, then GET /v1/documents/:id/file for the original PDF — the same pattern as Brazil material facts monitoring API, scoped to deal announcements.

For equity issuance tied to M&A financing, see Brazil follow-on offering disclosures API. For mandatory takeover bids, see Brazil tender offer disclosures API.

Which filing type carries M&A events?

Brazilian issuers do not expose a dedicated type=MERGER in the apicvm document list. Deal events usually surface under:

Practical rule: poll FATO_RELEVANTE on active watchlists, add AVISO_AOS_ACIONISTAS when you track assembly-driven restructurings, then filter rows by name keywords (Aquisicao, aquisição, Incorporacao, incorporação, Cisao, cisão, joint-venture, Desincorporacao) before downloading PDFs. After download, search PDF text for incorporação, aquisição de controle, cisão, or desincorporação.

On VALE3 for calendar year 2025, the demo corpus returned multiple FATO_RELEVANTE rows whose name includes aquisicao or joint-venture (demo API, queried 2026-09-17). Banks and acquisitive retailers follow the same list-and-download workflow when those tokens appear. Zero rows in a given year does not prove no M&A occurred — see limitations below.

How apicvm helps

1. Resolve the issuer — GET /v1/companies/resolve
2. List event filings — GET /v1/documents with type=FATO_RELEVANTE (optionally add AVISO_AOS_ACIONISTAS)
3. Scope with year and optional dateRef; sort with field=dateRef&order=desc
4. Download the PDF — GET /v1/documents/:id/file (no extraction credits)
5. Optional (Pro): page-level markdown — POST /v1/document-text-extractions with async callback

Auth: Authorization: Bearer or X-API-Key. Try VALE3 without a key via the demo API.

Setup

export APICVM_KEY='apicvm_...'
export APICVM_URL='https://apicvm.dev'

Step 1: List material facts for one ticker

curl -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents?ticker=VALE3&type=FATO_RELEVANTE&year=2025&perPage=50&field=dateRef&order=desc"

Response rows include stable id, dateRef, name, and nested company metadata. Use id as your cache key — not name, which can be long and encoding-sensitive.

Paginate with page= when meta.lastPage > 1. perPage maxes at 50.

Step 2: Narrow to M&A-related rows

Filename tokens on the CVM IPE feed are predictable enough for a first-pass filter:

curl -s -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents?ticker=VALE3&types=FATO_RELEVANTE,AVISO_AOS_ACIONISTAS&year=2025&perPage=50" \
  | jq '.data[] | select(.name | test("Aquisicao|aquisição|Incorporacao|incorporação|Cisao|cisão|joint-venture|Desincorporacao"; "i")) | {id, type, dateRef, name}'

Combine with shareholder notices when deals require assembly approval:

curl -s -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents?ticker=RADL3&type=AVISO_AOS_ACIONISTAS&year=2025&perPage=50" \
  | jq '.data[] | select(.name | test("incorporacao|aquisicao|cisao"; "i")) | {id, dateRef, name}'

After download, search PDF text for contrato de incorporação or aquisição de controle for validation. Extraction credits apply only if you use the text-extraction endpoint.

Step 3: Download an M&A notice PDF

curl -H "Authorization: Bearer $APICVM_KEY" \
  -o ma-notice.pdf \
  "$APICVM_URL/v1/documents/<document-id>/file"

Download does not consume extraction credits.

Example: Python watchlist for M&A filings

Poll material facts across a corp-dev watchlist. Persist seen in your database in production.

import os, time, requests, re
from datetime import datetime

BASE = os.environ["APICVM_URL"]
H = {"Authorization": f"Bearer {os.environ['APICVM_KEY']}"}
WATCH = ["VALE3", "RADL3", "SMFT3", "PETR4", "ABEV3"]
YEAR = datetime.utcnow().year
MA_RE = re.compile(
    r"aquisicao|aquisição|incorporacao|incorporação|cisao|cisão|"
    r"joint-venture|desincorporacao|desincorporação",
    re.I,
)
seen = set()  # load from your store on startup

def list_events(ticker):
    r = requests.get(
        f"{BASE}/v1/documents",
        headers=H,
        params={
            "ticker": ticker,
            "types": "FATO_RELEVANTE,AVISO_AOS_ACIONISTAS",
            "year": YEAR,
            "perPage": 50,
            "field": "dateRef",
            "order": "desc",
        },
    )
    if r.status_code == 429:
        time.sleep(5)
        return list_events(ticker)
    r.raise_for_status()
    return r.json()["data"]

for ticker in WATCH:
    for doc in list_events(ticker):
        if doc["id"] in seen:
            continue
        if not MA_RE.search(doc.get("name") or ""):
            continue
        seen.add(doc["id"])
        print(f"M&A {ticker} {doc['dateRef']} {doc['name'][:70]}")

Wire this into GitHub Actions or extend the diff pattern from Brazil material facts monitoring API.

Where M&A events sit in the filings stack

Brazil regulatory filings API explains the full layer map. During earnings windows, pair this hub with Track Brazil earnings season for ITR alongside event filings.

Current limitations

• Documents, not a deal room — apicvm does not replace virtual data rooms or legal counsel review.
• Keyword filters are heuristic — name tokens help; false negatives are possible if issuers use unusual titles.
• Polling, not push — no webhook when CVM publishes a new fact. Schedule polls and diff document.id.
• Ingestion lag — sync is not real-time. A notice may appear on the portal before it is in the corpus.
• Corpus coverage — not every issuer or period is present. Validate against the portal for production compliance use cases.
• Demo scope — /v1/demo/* is limited to VALE3. Other tickers need a production key.

Next steps

• Read the API docs
• Get an API key
• Brazil CVM filings for M&A research — DFP/FRE diligence layer

Related guides

• Brazil tender offer disclosures API — OPA and control-change bids
• Brazil follow-on offering disclosures API — capital increases linked to deals
• Brazil material facts monitoring API — generic fato relevante poll loop
• List avisos aos acionistas — focused AVISO_AOS_ACIONISTAS reference
• Extract text from CVM PDFs for AI agents — async markdown extraction