counter offer


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counter offer

n. an offer made in response to a previous offer by the other party during negotiations for a final contract. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or there is no contract. Example: Susan Seller offers to sell her house for $150,000, to be paid in 60 days; Bruce Buyer receives the offer and gives Seller a counter offer of $140,000, payable in 45 days. The original offer is dead, despite the shorter time for payment since the price is lower. Seller then can choose to accept at $140,000, counter again at some compromise price, reject the counter offer, or let it expire. (See: offer, contract)

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References in periodicals archive ?
Panmure Gordon analyst Alex DeGroote said that in the absence of a counter offer, he now expected a deal with Terra Firma to go through.
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They said they were ready and willing to burn the midnight oil to negotiate and arrive at a counter offer within the shortest period.
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By OUMA WANZALAThe ongoing lecturers strike may take longer to be resolved after the Treasury said yesterday that a counter offer will only come after job evaluation has been done.Treasury secretary Henry Rotich told the National Assembly's Education committee that a court case by lecturers stopping the Salaries and Remuneration Commission (SRC) from concluding the job evaluation had made it hard for the government to determine what to give them.
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Late last month, buyout firm MidOcean Partners and the Public Sector Pension Investment Board (PSP) made a counter offer of USD18.25 per share but later decided to abandon their acquisition plan.
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But the 23-year-old, who can play anywhere in defence and helped the Spotland club win promotion to League One this season, has been made a counter offer to stay at Rochdale.
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AWG recommended an offer worth pounds 2.2bn last week, but it was reported yesterday that Merrill Lynch had positioned itself to participate in a possible counter offer for the East of England water services provider.
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A bid battle for video games group Eidos has erupted after SCI Entertainment trumped an earlier agreed takeover of the firm with a pounds 76 million counter offer.
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An expected counter offer from Aletheia Partners has yet to be confirmed.
Uncertainty at Selfridges

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