Pac-Man strategy
takeover defense strategy in which the prospective acquiree retaliates against the acquirer's tender offer by launching its own tender offer for the other firm. ...
pac-man strategy
technique used by a corporation that is the target of a takeover bid to defeat the acquirer's wishes. The target company defends itself by threatening to take over the acquirer and begins buying its common shares.
Pac-Man Strategy
Financial & Investment Dictionary:
Pac-Man Strategy
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Pac-Man Strategy The target company attempts to takeover the hostile raider. This happens when the target company is larger than the predator. The name comes from the video game. It is another takeover repellent devised by management.
Used for listed equity securities. Regional exchange located in Los Angeles and San Francisco; only U.S. exchange open between 4:00 and 4:30.
Pac-Man strategy ...
 See also: Tender Offer, PIK, Passive portfolio, Payment-in-kind, Yield curve
  
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