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Quotes of the day:
I don\'t drink, smoke, or do drugs. I eat organic foods and walk every day setting walking records along the way. -Johnny Wowk AKA Johnny The Walker
A white knight is a hostile takeover defense whereby a ‘friendly’ individual or company that acquires a corporation at fair consideration that is on the verge of being taken over by an ‘unfriendly’ bidder or acquirer, who is known as the black knight. Although the target company does not remain independent, acquisition by a white knight is still preferred to the hostile takeover.
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