Outbid

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Outbid

To make a higher bid than another party. This means the second party will not buy the good or service being bid on unless it in turn makes a higher bid. For example, if Joe bids $10 for an antique desk and Frank bids $12, Frank has outbid Joe. The term is important in the securities trade. See also: Counteroffer.
References in periodicals archive ?
Last week, Variety reported that ABC has already outbid FOX and NBC for the rights to revive "American Idol" sometime next year.
A banking source told the paper that BNP outbid UniCredit SpA's (BIT:UCG) Bank Pekao SA and Banco Santander SA (MCE:SAN) by a wide margin.
In a moment of compassion, Ambrose outbids the meat dealers for Society Girl, and finds himself returning to his uncle's ranch with a horse that is far too old to pack.