He suggested that the offer did not exceed the Angels' proposal but was more of an attempt to "catch up."

The $44.75-a-share offer exceeds a $44-a-share bid made by Viacom's management to take the company private.

The offer greatly exceeds one made earlier by Viacom.

The offer exceeds another company's bid by 20 cents a share.

The shopping mall developer said any offer would exceed $1 billion.

That offer could have exceeded Mr. Trump's by as much as $90 million.

In the first three years, the Angels' offer exceeded the Mets' proposal by $1 million a year.

The offer now exceeds $1.1 billion in financing, all supplied by Mr. Icahn.

Generous offers in the ultimatum game (offers exceeding the minimum acceptable offer) are commonly made.

Pacificorp's offer of 765 pence, or $12.62, a share exceeded its previous proposal by 10 percent.