Meaning of “grey knight” in the English Dictionary

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"grey knight" in Business English

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grey knightnoun [ C ]

UK US gray knight uk us FINANCE

a possible buyer of a company who takes advantage of problems between the company and another possible buyer in order to take control of the company:

A gray knight is a potential acquirer who outbids a white knight in a hostile takeover.

(Definition of “grey knight” from the Cambridge Business English Dictionary © Cambridge University Press)