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
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