The market is hoping for either a raised offer for the company or a counter-bid.
They will make a higher bid for the company in the hope of dissuading competing businesses from counter-bidding.
Counter offers can come in a variety of options. During a sale negotiation either party will make counter offers opposing the other party's offer to reach an agreed price which more closely suits their preferred price. Informal counter offers occur on a daily basis as well, when deciding where to eat lunch to what to watch on the television.