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English definition of “grey knight”

grey knight

noun [C] UK ( US gray knight)     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. → Compare black knight, white knight
(Definition of grey knight noun from the Cambridge Business English Dictionary © Cambridge University Press)
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