Morgan Stanley's group raised its Burlington bid.

A group led by Morgan Stanley & Co. sweetened its friendly bid to acquire Burlington industries to $78 a share, or $2.12 billion, from $76 a share, The revised proposal tops a rival and hostile $77-a-share offer for Burlington, the nation's biggest textile producer, from New York investor Asher B. Edelman and Canadian textile manufacturer Dominion Textile Inc.

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