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.
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References in periodicals archive ?
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.
(http://cms.ibtimes.com/american-idol-revival-update-abc-outbids-fox-reboot-which-judges-will-return-2535494) Read: ABC outbids FOX, NBC for "American Idol" reboot
"Unfortunately, we were forced to adopt the extension option," he said, calling on fellow politicians to stop all outbids and go to the parliament to conduct the presidential election.