WHITEKNIGHT

White knight

In business, a white knight or "friendly investor" may be a corporation or an individual that acquires a corporation at a fair consideration during a period in which the corporation acquired is facing a hostile acquisition from another potential acquirer . White knights are preferred by the board of directors and/or management as in most cases as they do not replace the current board and/or management with a new board. Whereas in most cases, a black knight will seek to replace the current board of directors and/or management with its new board reflective of its net interest in the corporation's equity.

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White Knight

The Pedigree of The White Knight was one of three hereditary knighthoods within Ireland dating from the medieval period. It was held by the Fitzgibbon family, and has since become dormant. The others are Fitzgerald: Knight of Glin which too after 700 years, has become dormant since the passing of the 29th Knight, September 2011) and Fitzgerald: Knight of Kerry .

The above text is a snippet from Wikipedia: White Knight (Fitzgibbon family)
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white knight

Noun

  1. An individual or corporation that intends to acquire another company in order to avert a hostile takeover.
  2. a hero, savior, or righteous individual


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