Hat tip to Felix Bronstein for pointing out these articles that illustrate that the Pac-Man defense is back:
– 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:
Did you see the interesting DealBook article entitled “Some Big Public Pension Funds Are Behaving Like Activist Investors” from this weekend…