Fairfax Leads Take-Private Buyout of Kennedy-Wilson in All-Cash Consortium Deal
By Adriano Marchese
Fairfax Financial Holdings has agreed to acquire Kennedy-Wilson Holdings in an all-cash premium deal alongside a consortium that includes entities affiliated with the real estate firm's chairman and chief executive.
Fairfax Financial, a Canadian financial holding company, will acquire all outstanding common shares of Kennedy-Wilson for $10.90 a share, except for certain shares owned by the members of the consortium and their respective affiliates.
The consortium includes an entity affiliated with a group led by William McMorrow, Chairman and Chief Executive Officer of the company, and certain other senior executives of Kennedy-Wilson, but Fairfax is expected to have a majority of the economic interest when the deal is concluded.
The per-share purchase price represents a 46% premium to Kennedy-Wilson's share price as of Nov. 4, the last trading day before receiving the proposal. Since then, the stock has risen about 30%, and recently traded a further 11% higher in premarket trading Tuesday at $11.00.
On the funding front, Fairfax has committed to provide the consortium with up to $1.65 billion for the all-cash purchase.
The transaction is expected to close in the second quarter of 2026, after which the company will be delisted from the New York Stock Exchange.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 17, 2026 07:28 ET (12:28 GMT)
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