This is due to VMFS block size choosen when formating your VMFS volume. By default it's set to 1MB which allows you to have a maximum file size of 256GB
Take a look at this page for more details: http://itknowledgeexchange.techtarget.com/virtualization-pro/choosing-a-block-size-when-creating-vmfs-datastores/
You would need to re-create the VMFS volume to allow for larger file sizes
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William Lam
VMware vExpert 2009
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Twitter: @lamw
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