counter-bidnoun [ C ]
also counterbid ukusalso counter-offer COMMERCE, FINANCEa situation in which someone offers to pay more than someone else for a company, property, etc.:
The market is hoping for either a raised offer for the company or a counter-bid.
counter-bid
verb [ I or T ] also counterbid
They will make a higher bid for the company in the hope of dissuading competing businesses from counter-bidding.