white knight

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White knight

A friendly potential acquirer sought out by a target firm that is threatened by a less welcome suitor.

White Knight

Informal; an acquiring company in a friendly takeover. One usually refers to a white knight when the target company would be otherwise subject to a hostile takeover. That is, the white knight rescues the target company from the prospect of the hostile takeover. While the target company does not remain independent, it is able to negotiate terms with the white knight. Management usually remains in place and shareholders are often paid a higher price. See also: Black Knight, Gray Knight.

white knight

A person or company that rescues a target firm from a takeover attempt by buying the firm. Compare raider. See also hostile tender offer, shark repellent, white squire.

White knight.

A corporation that is the target of a hostile takeover sometimes seeks out a white knight that comes to the rescue by making an offer to acquire the target company in a friendly takeover that suits the needs and goals of the target's management and board.

The hostile acquirer is called a black knight, and if the white knight is outbid by a third potential acquirer, who is both less friendly than the white knight and more friendly than the black knight, the third bidder is called a gray knight.

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white knight

References in periodicals archive ?
In addition to examining the wealth effects for the white knights, we sought to estimate the wealth effects for the other market groups participating in the corporate control contests involving white knights to examine the welfare consequences of the contest using the Kaldor-Hicks compensation principle.
They didn't take it seriously," the White Knights leader said.
The protests on Thursday by Ultras White Knights, fans of the Zamalek football team, turned violent after protesters attempted to storm into the club.
RIDING TO HELP: Lynette Stothart, of Claims Today, a sponsor of the White Knights motorcycle volunteers, and 'Big Mick' Walter (right) with the keys to one of the bikes and (back, from left) group chairman Vic Siswick and sponsors Paul Stothart and Dick Cartwright of DC Motorcycles (AC040308Ebike)
The White Knights have secured sponsorship from WYAM, but are appealing for equipment, riders and fundraisers.
Mary Kitchen of Sainsbury's in Market Street, Huddersfield, presents a cheque for PS4,517 to White Knights Vic Siswick and Howard Gee, watched by colleagues Bob Thompson, Julie Gray, Julie Hirst and Carol Hawkyard 080616HKNIGHTS_01 JULIAN HUGHES
The White Knights lost 2-1 to Africa Sports of CE[sup.
The hotel, which overlooks the Wear at Chester-le-Street, launched an exclusive White Knights Members Club in 2003 and since then guests have signed up to become Knights of Lumley.
The Order of the White Knights invites people to make a pledge to white ancestral dominance, while the Combat 18 web site has extracts from Hitler's book Mein Kampf.
After ascertaining that the two men were really from the FBI and not from the Klan's dangerous counter-insurgency operation, the Klan Bureau of Investigation, Dennis offered to infiltrate the White Knights branch of the KKK to bring to justice the men who had murdered Schwerner, Goodman, and Chaney.
The correct terms are white knights and black knights.
In Section I, we examine prior studies of white knights and discuss the use of Tobin's q as a measure of managerial performance.