• With Pac-Man protected, the company targeted by the hostile takeover fights back in an effort to gain financial control of the situation.
  • The target company may sell certain key assets in order to wrest them from the hands of a potential acquiring company.
  • The target company can also buy back some of its shares from a hostile company or try to buy some of the shares of this company.
  • A company that is in danger of being taken over can finance these actions by obtaining external funding or using its own stock of free funds.