Pac-Man defense


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Related to Pac-Man defense: Macaroni Defense

Pac-Man defense

 (păk′măn′)
n.
A stratagem used to prevent a hostile takeover, by which the target company tries to acquire the bidder.
[After Pac-Man, , trademark for a video game in which a character gobbles up its opponents.]
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
References in periodicals archive ?
Some cases, however, have held to the contrary.(103) At least one court has held that break-up fees paid to a white knight are deductible as a business expense under section 162.(104) Furthermore, the IRS has stated that costs incurred in Pac-Man defenses or in poison pill plans must be capitalized.
INDOPCO and the tax treatment of reorganization costs
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