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The new Fortress offer comprises 270 pence per Morrisons share plus a 2 pence a share special dividend.
Morrisons said its board has re-confirmed its unanimous recommendation of the offer.
The board had previously agreed a Fortress offer worth 254 pence a share or a total of 6.3 billion pounds on July 3.
However, major Morrisons investors Silchester, M&G and JO Hambro all indicated that offer was too low.
U.S. private equity group Clayton, Dubilier & Rice (CD&R) CD&R had a 230 pence a share proposal worth 5.52 billion pounds rejected by Morrisons on June 17.
Britain’s Takeover Panel, which regulates corporate takeovers, had set an August 9 deadline for CD&R to come back.
($1 = 0.7189 pounds)
