As of 3:46 p.m. EDT, StoneCo's stock had gained 3.2%.
StoneCo entered into an agreement last month to buy Linx for R$6.04 billion (about $1.12 billion). Today, StoneCo updated the terms of the purchase, saying that it would now buy the company for R$35.10 (about $6.52) per Linx share.
StoneCo said that each Linx share would now be worth R$31.56 plus 0.0126774 Stone Class A common shares. Additionally, StoneCo lowered the maximum breakup fee for the deal to R$453.75 million, down from the previous R$605 million, in the case that a Brazillian antitrust authority doesn't approve the deal. If Linx shareholders don't approve the deal, then Linx has to pay $R112.5 million.
StoneCo updated the terms of the deal as it fended off a rival bid from Totvs SA.
Shares of StoneCo have been erratic since the company announced its initial bid for Linx on Aug. 11. The company's stock price popped 11% after the deal was initially announced, but its shares have lost some ground since then and are up just 1% since that announcement.