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English definition of “Pacman defence”

Pacman defence

noun [S] UK (US Pacman defense)     FINANCE, MANAGEMENT
a situation in which one company tries to buy another company, but the second company prevents this happening by buying shares in the first company: MBW retaliated with a Pacman defence, making a $1.4 billion counter-offer.
(Definition of Pacman defence noun from the Cambridge Business English Dictionary © Cambridge University Press)
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