Meaning of “Pacman defence” in the English Dictionary

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"Pacman defence" in Business English

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Pacman defencenoun [ S ]

UK US Pacman defense uk us 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” from the Cambridge Business English Dictionary © Cambridge University Press)