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We found one dictionary that defines the word Pac-Man defence:

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  1. Pac-Man defence: Wiktionary

Definitions from Wiktionary (Pac-Man defence)

noun:  (UK) Alternative spelling of Pac-Man defense. [(business) A response to an attempted hostile takeover of a company, in which the target company, or a 'white knight' acting on its behalf, tries to turn the situation round by acquiring all or much of the other company.]

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