Pronunciation: (un"dur-kwōt'), [key]
—v.t., -quot•ed, -quot•ing.
1. to offer (stocks, merchandise, etc.) at a price lower than the market price or some other quoted price; offer at a price reduced by (a specified amount).
2. to quote a price lower than that of (a specified competitor).
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.