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Douglas Harper's Etymology Dictionary
counteroffer

1788, from counter- + offer (n.).

Wiktionary
counteroffer

alt. An offer made in reply to an unacceptable offer n. An offer made in reply to an unacceptable offer vb. To offer as a counteroffer.

WordNet
counteroffer

n. an offer made by someone who has rejected a prior offer

Usage examples of "counteroffer".

There would be counteroffers, and counter-counteroffers, and further negotiations, but always, the first offer was rejected.

From this moment on, we say no and our counteroffers must be a margin of what is being offered-so low that no one will take our offers, but enough to let them know we are still in business.

In fact, all the negotiations, arguments, offers, and counteroffers to Joustin' Time had perforce to come from me.

He received the counteroffer with a good, straight poker face, and Mitch, the negotiator, knew it was not out of the ballpark.