counterbid

/ ˈkaʊntəˌbɪd /

noun

1. a bid made in response to a bid from another party, offering more favourable terms to the seller

Example Sentences

"We think that this is a knock-out bid," Peel Hunt analysts said, adding they were not expecting any counterbid.

From Reuters

Barrick Gold has ruled out a counterbid for number-one Australian gold producer Newcrest Mining , its chief executive told Bloomberg, eliminating what had seemed to be the most likely prospect of a rival to bidder Newmont .

From Reuters

The opening counterbid by Senate Republicans in negotiations with Democrats over a new round of coronavirus stimulus would cut the stipend to $200 a week, pending a capping of the benefit at 70% of a worker’s pre-pandemic income by October.

From Los Angeles Times

“This monument is town property, and the effort to move it into private hands is a way to remove residents’ ability to demand change,” said Jay Ford, 37, who is leading a drive to raise $10,000 to offer the town a counterbid for the 30-foot-tall granite statue and the land on which it sits.

From Washington Post

Siemens entered a bidding war with General Electric for Alstom’s power-turbines business in 2014, after the French government encouraged a European counterbid.

From Reuters