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US: Real estate investment firm Kennedy Wilson will be acquired by a consortium led by its chief executive William McMorrow and Fairfax Financial in a $1.5 billion (£1.11 billion) deal.
The consortium will acquire all remaining shares for $10.90 each in cash, an increased offer from a previous $10.25 in November, representing a 10.2 per cent premium to the stock’s last close.
In November, the consortium said that private ownership would reduce the cost and administrative burden of being publicly listed, allowing management to focus on its strategy.
Once the deal closes, which is anticipated to be in Q2 2026, Canadian billionaire Prem Watsa’s Fairfax will have a majority interest in Kennedy Wilson, while the CEO-led KW Management Group will retain operational control.
Kennedy Wilson has around $31 billion of assets under management and is active in the European living sector.
In July last year it teamed up with Canada Pension Plan Investment Board (CPP Investments) to acquire a 275 single-family rental (SFR) portfolio across Milton Keynes, Derby, and Cheltenham for approximately £100 million.
Highlights:
- Real estate investment firm Kennedy Wilson will be acquired by a consortium led by its chief executive William McMorrow and Fairfax Financial in a $1.5 billion (£1.11 billion) deal
- Once the deal closes, which is anticipated to be in Q2 2026, Canadian billionaire Prem Watsa’s Fairfax will have a majority interest in Kennedy Wilson, while the CEO-led KW Management Group will retain operational control
• Kennedy Wilson has around $31 billion of assets under management and is active in the European living sector
