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The Pac-Man Defense is a defensive option to stave off a hostile takeover.
The most quoted example in U.S. corporate history is the attempted hostile takeover of Martin Marietta by Bendix Corporation in 1982. In reponse 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.
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