A white knight in shining armor showed up in a high-profile corporate takeover battle Monday, when Eight Consultants Co. announced it would launch a tender offer bid for Japan Engineering Consultants Co.

The management of Japan Engineering, a construction consultancy company targeted for a hostile takeover by Yumeshin Holdings Co., said it endorses Eight Consultants' bid.

A white knight is a company that saves the day by making a friendly takeover offer to a company threatened by a hostile one.

Okayama-based Eight Consultants said it will buy Japan Engineering's shares through a tender offer bid at 118 yen per share between Tuesday and Oct. 7.

The construction consultancy firm said the acquisition will enable it to expand its operations in eastern Japan.

It said the acquisition was broached by Daiwa Securities SMBC Co., which serves as lead underwriter for both Eight Consultants and Japan Engineering.

Japan Engineering said it welcomes Eight Consultants' bid, claiming it offers "a meaningful option for shareholders in comparison with Yumeshin's bid."

Japan Engineering was suddenly thrown into the spotlight last month when Yumeshin Holdings, a construction management firm, announced its TOB, which is being carried out between July 20 through Friday at 110 yen per share.

Japan Engineering management has balked at the hostile takeover, saying Yumeshin has failed to give enough information or time to shareholders to properly study the bid.