Grey Knight

Knowledge Center

Summary, forum, best practices, expert tips and information sources.

8 items • 9.446 visits


What is a Grey Knight? Meaning.

A Grey Knight (GK) is a potential acquirer who outbids a White Knight in an Hostile Takeover. Unlike a White Knight, a GK is not invited to acquire the company. But he is still seen as a better alternative than the hostile bidder (the Black Knight).

It is a possible buyer of a company who takes advantage of problems between the target company and another (initial) possible buyer in order to take control of the company.

Typically a gray knight watches the process and interactions between an initial, first bidding company and the target firm and waits for any problematic issue(s) to arise. If they do, the gray knight comes forward and tries to take advantage of the problem(s) between the two initial parties. The gray knight is neither to be considered as an (unfriendly) black knight that is pursuing a hostile takeover nor as a (friendly) white knight that is working closely with the board of directors and management of the target company to reach a fair purchase price.

Special Interest Group


Grey Knight Special Interest Group.

Special Interest Group (4 members)


New Topic

Forum about the Grey Knight.

🔥 NEW Cases of Grey Knights. Examples
Hi, do you know of a remarkable case or famous example in which a grey knight appeared in an acquisition case?
Please (...)


Best Practices

The top-rated topics about the Grey Knight. Here you will find the most valuable ideas and practical suggestions.

Expert Tips

Advanced insights about the Grey Knight. Here you will find professional advices by experts.

Information Sources

Various sources of information regarding the Grey Knight. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.

Research Links

Automatically jump to further useful sources regarding the Grey Knight.

News Videos Presentations Books More






Compare with: Mergers and Acquisitions  |  Leveraged Buy-Out  |  Management Buy-out  |  Acquisition Integration Approaches

Special Interest Group

Do you have a keen interest in the Grey Knight? Become our SIG Leader


Return to Management Hub: Finance & Investing  |  Strategy & Innovation

More on Management  |  Return to Management Dictionary


This ends our Grey Knight summary and forum.

About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2021 12manage - The Executive Fast Track. V15.8 - Last updated: 3-12-2021. All names of their owners.