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)

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.
Instead of paying the client, I made a counter offer to teach some of their employees how to use their computers and apply them to their work setting.
De Dietrich launched a hostile takeover bid for VAE on June 8, prompting VA Stahl to respond with a counter offer, which had the backing of the VAE management.
After Versum Materials (VSM) received a counter offer acquisition bid from Merck KGaA (MKGAY) of $48 per share in cash, Stifel analyst Patrick Ho said its "hard not to like" this "very attractive" bid.
They said they were ready and willing to burn the midnight oil to negotiate and arrive at a counter offer within the shortest period.
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.
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.
In a statement to the bourse, Sava Re also said it had no plans to make a counter offer for Zavarovalnica Maribor.
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.
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.
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.
An expected counter offer from Aletheia Partners has yet to be confirmed.

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