white squire白护卫

猎物公司将大宗具有表决权的证券卖给友好公司，与充担白护卫的友好公司签定不变动的协议，该协议允许白护卫在猎物公司遭收购时以优惠价格认购股票或得到更高的投资回报率。以此防止敌意收购。

A white squire is an investor or friendly company that buys a stake in a target company to prevent a hostile takeover. This is similar to a white knight defense, except the target firm does not have to give up its independence as it does with the white knight, because the white squire only buys a partial share in the company.

white knight白骑士

猎物公司为了免受敌意收购者的控制而别无他策时，可以自行寻找一家友好公司，由后者出面和敌意收购者展开标购战。此策可使猎物公司避免面对面地与敌意收购者展开大范围的收购与反收购之争，但是，自寻接管人最终会导致猎物公司丧失独立性。

A white knight is a hostile takeover defense whereby a 'friendly' individual or company acquires a corporation at fair consideration when it is on the verge of being taken over by an 'unfriendly' bidder or acquirer. The unfriendly bidder is generally known as the "black knight."

以下为相关双语示例，供参考：

The white knight is the savior of a company subject to a hostile takeover. Often, company officials seek out a white knight to preserve the company's core business or to negotiate better takeover terms. An example of the former can be seen in the movie "Pretty Woman" when corporate raider/black knight Edward Lewis, played by Richard Gere, had a change of heart and decided to work with the head of a company he'd originally planned to ransack.

白骑士是被恶意收购的公司的救世主。通常，公司高管会找寻白骑士来保住公司的核心业务或协商更优的收购条款。比如，电影《风月俏佳人》中就可以看出这一点，当时Richard Gere扮演的Edward Lewis，企业狙击手/黑骑士改变了主意，决定与他原本计划洗劫的公司的负责人合作。

Once the unfriendly acquirer has withdrawn its bid, the white squire will typically sell its shares. To prevent it from switching allegiances in the future, the deal may be structured so that the shares given to the white squire may not be tendered to the hostile bidder.

一旦恶意收购者撤回其出价，白护卫一般会将其股份出售。为了防止它在未来改变注意，交易的结构可能会设置为给与白护卫的股份不能出售给恶意竞价人。