The bid is a 4.1% premium to Goodman's last trading price of 67.2 Australian cents on the ASX.
Goodman's board has until tomorrow night to open its books for due diligence and recommend the deal.
The dual-listed shares were halted in New Zealand and Australia yesterday.
"The company and First Pacific will not increase the price further in the absence of a competing proposal," Wilmar said.
The Asian companies are seeking to buy Goodman through a scheme of arrangement, meaning they need only 75% support to take control rather than the 90% target for a hostile takeover.
Goodman's board knocked back the earlier offer as opportunistic and materially undervaluing the company.
Wilmar bought a 10% stake in Goodman in 2012 and registered interest in the food ingredients maker's assets which were up for sale at the time.
In February, Goodman forecast normalised annual earnings to be “broadly in line” with the previous year's A$185.6m as soaring milk prices and intense competition in baking goods eroded profitability.
The maker of household brands including Vogel's bread, Meadowfresh milk and yoghurt, and Meadowlea butter and margarine has been cost cutting, restructuring and divesting over the past three years to focus on its core brands and reduce debt.
