[ pak-man ]
/ ˈpækˌmæn /
a defensive tactic against a hostile takeover in which the targeted company makes its own bid to take over the hostile firm.
Origin of Pac-Man defense
First recorded in 1980–85; after Pac-Man, a character in a video game that devours its attackers
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019