In addition, the company reiterated its interest in a possible acquisition of Dominion Textile.
Dominion Textiles' market share fell dramatically from nearly 100% of the Canadian market in 1947 to only 47% a decade later.
The Dominion Textiles' buildings appeared once as a key feature in 1981 Frédéric Bach's short animated movie Crac!
The Morgan buyout offers $76 a share in cash, while Mr. Edelman's group, which included Dominion Textiles of Canada, offered $72.
The most notable Canadian venture in this field was Dominion Textile.
On May 22, a bomb explodes at the Dominion Textile in Drummondville.
Asher B. Edelman and Dominion Textile sought a ruling that would allow them to make a higher offer for Burlington.
Wall Street analysts familiar with Dominion Textile said they could not recall any venture in which the Canadian company had become involved in a hostile takeover.
After the explosion, Dominion Textile shifted production to other mills.
The $67-a-share offer for the nation's largest textile manufacturer comes from Dominion Textile of Canada and the investor Asher B. Edelman.