gray knight

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Related to gray knight: white squire

Gray knight

In a merger or acquisition, a gray knight is an acquiring company that outbids a white knight in pursuit of its own best interests, although it is friendlier than a hostile bidder.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Gray Knight

A company that outbids a white knight in a friendly acquisition. A gray knight is not after a hostile takeover, but does serve its own interests, as opposed to those of the target company. Often, a gray knight makes an unsolicited bid for the target company after the initial, friendly bid. The management of the target company prefers a gray knight to a black knight, but, of course, would most prefer to be acquired by a white knight.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

gray knight

A company, neither friendly nor hostile, that outbids another firm in an acquisition attempt.
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.
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Meanwhile, James Tudor from the Vale of Glamorgan landed the restricted open race on Gray Knight at the Staff College & RMA Sandhurst Draghounds meeting at Larkhill on Sunday where only 21 runners turned out for the seven races.
Gray Knight, who had just four rivals to beat, was running in the biggest field of the day and was returned a 6-4 favourite.
Last year, they won the same race with Gray Knight. Tudor has since blossomed as a rider and with 19 point wins is third in the national point-to-point table, while Lawney Hill's talents are taking her towards a full licence.
James Tudor from Wick became the first Welshman to ride a winner this term when he landed division one of the young horse maiden on the Henrietta Knight reject Gray Knight.
Seven-year-old Gray Knight went clear at the last after Cash'n'Carry took a tumble.
Gray Knight provided Oxfordshire trainer Lawney Hill with her tenth success this year, having also been her first when successful on the opening day of the season at Cottenham.