If a company that is the target of a hostile tender offer locates another corporation that will be friendlier to management and agrees to be taken over by this second company,this action is often referred to as:

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This action is often referred to as a "white knight" merger, referring to the knight in shining armor who comes to the rescue of the target company's management team. The "white knight" is typically a company that the target company feels would be a better fit culturally and strategically, and whose takeover would be more palatable than that of the hostile bidder.

If a Company That Is the Target of a Hostile