Pac-Man defense: Difference between revisions
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The most quoted example in U.S. corporate history is the attempted hostile takeover of [[Martin Marietta]] by [[Bendix Corporation]] in [[1982]]. In response Martin Marietta started buying Bendix stock with the aim of assuming control over the company. Bendix persuaded [[Allied Corporation|Allied Corp.]] to act as a [[White knight (business)|White Knight]], and the company was sold to Allied the same year. |
The most quoted example in U.S. corporate history is the attempted hostile takeover of [[Martin Marietta]] by [[Bendix Corporation]] in [[1982]]. In response Martin Marietta started buying Bendix stock with the aim of assuming control over the company. Bendix persuaded [[Allied Corporation|Allied Corp.]] to act as a [[White knight (business)|White Knight]], and the company was sold to Allied the same year. |
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The name refers to when [[Pac-Man]], the star of the [[videogame]] of the same name |
The name refers to when [[Pac-Man]], the star of the [[videogame]] of the same name, turns around and devours the ghost that was previously pursuing him (after eating a Power Pill that allows him to do so). |
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Revision as of 12:40, 6 September 2005
The Pac-Man defense is a defensive option to stave off a hostile takeover.
A Pac-Man defense is when a company that is under a hostile takeover acquires its would-be buyer.
The most quoted example in U.S. corporate history is the attempted hostile takeover of Martin Marietta by Bendix Corporation in 1982. In response Martin Marietta started buying Bendix stock with the aim of assuming control over the company. Bendix persuaded Allied Corp. to act as a White Knight, and the company was sold to Allied the same year.
The name refers to when Pac-Man, the star of the videogame of the same name, turns around and devours the ghost that was previously pursuing him (after eating a Power Pill that allows him to do so).
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