White Knight Law and Legal Definition
White knight is a corporation/person that saves a target corporation from a hostile takeover by acquiring it under more favorable terms and a better price per share. It is a person or corporation that rescues the target of an unfriendly corporate takeover, especially by acquiring a controlling interest in the target corporation or by making a competing tender offer. White Knight is a friendly potential acquirer sought out by a target firm that is threatened by a less welcome suitor.
