Brewer Revieves paceman tactic

City lawyers have reacted with scepticism to the bid tactics being employed in the takeover battle between rival Midland brewers Marston Thompson & Evershed and Wolverhampton & Dudley.

The so-called ‘Pacman’ defence – when a firm counter-bids against the rival attempting to take it over – is being used by Marstons, advised by Linklaters, against Wolves, advised by a Freshfields team.

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