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Black Knight
A term referring to a company or entity that makes a hostile takeover bid for a target company, without the target�s invitation or agreement, opposing a "White Knight."
Implications
A hostile acquirer in a takeover attempt, often viewed as aggressive or unfriendly, typically in contrast to a �white knight� who is seen as a more favorable bidder.
Example
Example: In 2008, Kraft Foods was considered a black knight when it made a hostile bid for Cadbury, which was initially rejected by Cadbury's board.
Related Terms
Different from a white knight, who is a preferred bidder in a takeover, a black knight is typically unwelcome and viewed as a threat by the target company.
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