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grey knight

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Definition of grey knight in English:

noun

Stock Exchange
A person or company making a possibly hostile counter offer for a company already facing a hostile takeover bid.
Example sentences
  • The gray knights are essentially the scavengers of takeover attempts.
  • The new bidder, the gray knight, is not as preferable as the white knight, however, the gray knight is still a better option than the black knight.

Origin

by association with black knight and white knight.

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