Business Dictionary :
Bi and Bid
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Bi- : prefix : twice :
• Bi-monthly = twice a month
• Bi-annually = twice a year
Bid : noun :
(a) offer to buy something at a certain price
• To make a bid for something = to offer to buy something
• He made a bid for the house.
• The company made a bid for its rival.
• To make a cash bid = to offer to pay cash for something
• To put in a bid for something or to enter a bid for something = to offer (usually in writing) to buy something
(at an auction) Opening Bid = first bid
Closing Bid = last bid at an auction or the bid which is successful
(b) offer to do some work at a certain price
• He made the lowest bid for the job.
• US offer to sell something at a certain price. They asked for bids for the supply of spare parts
(e) Takeover bid = offer to buy all or a majority of shares in a company so as to control it
• To make a takeover bid for a company
• To withdraw a takeover bid
• The company rejected the takeover bid = the directors recommended that the shareholders should not accept it
Bid : verb : (at an auction) to bid for something = to offer to buy something
• He bid £1,000 for the jewels = he offered to pay £ 1, 000 for the jewels.
NOTE : bidding - bid - has bid
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