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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

white knight

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

white knight

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The white knight's bid must come subsequent to the announcement of a hostile bid.
Thus, the corporation does not seem to be "defending" itself against attack when the payment is made to the white knight. An argument can be made, however, that the corporation was defending itself when it signed the contract with the white knight that it would pay break-up fees should the merger between the corporation and the white knight fall through.
shareholders of the target and the white knight, nor does the model preclude overbidding.
He was also updated by the White Knight Corps Commander on the current internal security situation in the Kishtwar region and measures undertaken by the Army and civil administration for controlling the situation.
This is especially relevant in the context of the existing literature on synergistic gains in takeovers, which indicates that low absolute percentage gains for bidders can translate to large dollar gains, because bidders are usually much larger than targets.(5) Large dollar losses for white knights may point to the need for a reappraisal of synergistic gains from the subset of takeover activity which involves the white knight as one of the bidders.
The IRS, as noted in TAM 8945003, would also require capitalization of the white knight costs.
The White Knights and the many other silent people like them should be the ones who receive our country's gratitude long before the people from the likes of business, finance and the civil service.
Designed by Scaled Composites, the White Knight Two mothership rolled down the runway of the Mojave Air and Space Port in California and muscled itself into the air using four Pratt and Whitney PW308A turbofan engines, on December 21.
The White Knights are looking to achieve the victory over Ittihad Alexandira to book the ticket to the Final.
Eisma said the white knights do not include China because the government has stopped talking to China.
Zamalek president Mortada Mansour revealed that Mohamed Hassan will be out of the team on loan after the White Knights' management extended the stay of international midfielder Tarek Hamed.
He was involved in the case charged of founding the White Knights illegally and an assassination attempt against Mortada Mansour, the head of Cairo's Zamalek Club.