outbid

outbid definition - business

outbid

To offer a price that is higher than the existing offers from competitors. For example, an oil company may outbid competitors and win drilling rights to a section of the Gulf of Mexico.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.