White Knight
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White KnightKnowledge Center |
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What is a White Knight? Meaning.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 SquireA 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.
Compare with: Acquisition Integration Approaches | Grey Knight | Friendly Takeover | Crown Jewel Defense |
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