December 3, 2013

Pac-Man’s Back!

Hat tip to Felix Bronstein for pointing out these articles that illustrate that the Pac-Man defense is back:

WSJ’s “Back to the ’80s: The Pac-Man Defense”

The Deal’s “Market eyes Jos. A. Bank pitch to Wearhouse investors” – which has this interesting last sentence:

The idea that there might be a Pac-Man defense stems only from a misreading of Wildrick’s remarks at the outset of the public bidding.

And these articles explore how the Pac-Man defense originated:

NY Times’ “Origins of the ‘Pac-Man’ Defense

The Deal’s “Familiar advisers line up for Martin Marietta and Vulcan

Did you see the interesting DealBook article entitled “Some Big Public Pension Funds Are Behaving Like Activist Investors” from this weekend…