A person who or organization which holds or purchases a minority stake in a company facing an unwelcome takeover bid, and lends support to the existing management.
Origin
1980s; earliest use found in The Courier-Mail.
Definition of white squire in US English:
white squire
noun
Stock Market
A person who or organization which holds or purchases a minority stake in a company facing an unwelcome takeover bid, and lends support to the existing management.