SAO PAULO - Shares of Brazil’s Log-In Logística Intermodal SA fell on Tuesday for the first time in three sessions, as investors took profits following news that rival Manabi Holding SA made a takeover offer. The stock shed 7.4 percent to 1.25 reais, after gaining 39 percent since Dec. 30, when Reuters reported that Manabi proposed to inject about 400 million reais ($100 million) into Log-In in exchange for a stake of between 60 and 70 percent. In a securities filing, Log-In said the proposal from Manabi, a Brazilian mining and logistics company, is nonbinding and subject to modification. The company did not disclose the size of the bid, though it noted that Manabi wants to win control of at least 51 percent of Log-In. The announcement led investors to shed shares of Log-In and pocket gains, said Ariovaldo Santos, head of equities at H. Commcor brokerage in São Paulo. In late December, Log-In hired investment bank Moelis & Co to advise on the refinancing of 1.9 billion reais of bank loans. Manabi operates iron ore mines in the middle of the mineral producing state of Minas Gerais, in southeast Brazil, and is trying to build a 511 kilometer (317 mile) iron ore pipeline and a private port terminal in the neighboring state of Espírito Santo. ($1 = 4.0017 Brazilian reais)