GSW 0.00% 29.0¢ getswift limited

Ann: Response to ASX Query, page-178

  1. 484 Posts.
    lightbulb Created with Sketch. 83
    I couldn't access this due to not having a paid membership. However, the title raises some questions - a white knight, by my understanding, was someone sought out to save the company. I found several definitions but they all align with this one:

    What is a 'White Knight'

    A white knight is an individual or company that acquires a corporation on the verge of being taken over by a force deemed undesirable by company officials, otherwise known as a black knight. While the target company doesn't remain independent, a white knight is viewed as a preferred option to the hostile company completing their takeover. Unlike a hostile takeover, current management typically remains in place in a white knight scenario, and investors receive better compensation for their shares.

    The phrase 'white knight' can also be used when a company is about to topple over financially and they seek out a savior. So that doesn't seem to apply, since they are growing their customer base, have income that is increasing and money in the bank.

    Is there a hostile bidder (black knight) that is coming after them? Are they putting the company up for bids to try and block it and obtain a better offer from a white knight who will leave the board intact and be easier to deal with?
    Last edited by Nanday: 11/02/18
 
watchlist Created with Sketch. Add GSW (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.