White Knight

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Description of White Knight. Explanation.

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Definition White Knight. Description.


A White Knight is a friendly party in a hostile takeover, which "saves" the target company from being controlled by an unfriendly aggressor by acquiring a substantial number of shares or even a majority interest in the target company.

 

The White Knight Squire Defense is an Anti Hostile Takeover Mechanism.

 

White Squire

A variant of a white knight is the white squire, which only exercises a significant minority stake, as opposed to a majority stake.

A white squire doesn't have the intention, but rather serves as a figurehead in defense of a hostile takeover.

The white squire may often also get special voting rights for their equity stake.


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  White Knight Cases and Examples
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Compare with: Acquisition Integration Approaches  |  Grey Knight  |  Friendly Takeover  |  Crown Jewel Defense

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