According to a definition on Wikipedia, “In business, a white knight is a friendly investor that acquires a corporation at a fair consideration with the support from the corporation’s board of directors and management. This may be during a period while it is facing a hostile acquisition from another potential acquirer or it is facing bankruptcy.” Broadly speaking, in general also, a white knight represents a genial character, in business also when a company is facing a tough time, just like a friend, a white knight investor comes to the rescue. Although the target company does not remain independent, acquisition by a white knight is still preferred to the hostile takeover.