Definitions from Wiktionary (white knight)

▸ noun:  (business) An individual or corporation that intends to acquire another company in order to avert a hostile takeover.
▸ noun:  (fiction) A hero, savior, or righteous individual.
▸ noun:  (figurative, derogatory) Someone who unnecessarily defends someone else.
▸ noun:  (informal, derogatory, Internet) A man who defends a woman in debate etc. in an attempt to gain her favour.
▸ noun:  A mushroom of species Tricholoma album.
▸ verb:  (figurative, derogatory) To unnecessarily defend someone, especially in an attempt to gain favour.
▸ Also see white_knight


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