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outbid  (outbids 3rd person present) (outbidding present participle )
The form outbid is used in the present tense and is the past tense and past participle.  If you outbid someone, you offer more money than they do for something that you both want to buy.  verb 
The Museum has antagonised rivals by outbidding them for the world's greatest art treasures...  V n