Kennedy-Wilson Holdings, Inc. (KW) on Tuesday agreed to be acquired in an all-cash transaction by an affiliate of a consortium led by Chairman and CEO William McMorrow, together with Fairfax Financial Holdings Ltd. (FRFHF, FRFFF,FFH.TO), for $10.90 per share.
The transaction is not subject to a financing condition. The deal is expected to close in the second quarter of 2026.
The offer represents a 46% premium to the company's unaffected share price as of November 4, 2025.
Fairfax is committed to providing up to $1.65 billion to fund the transaction, including the cash purchase price and redemption of certain preferred shares.
Following completion, the management group led by McMorrow will retain operational control of the company, while Fairfax is expected to hold a majority economic interest.
Upon closing, Kennedy Wilson's shares will cease trading on the New York Stock Exchange.
On Friday, Fairfax Financial closed trading 1.74% higher at CAD 2,356.86 on the Toronto Stock Exchange.
In the pre-market trading, Kennedy-Wilson Holdings is 9.85% higher at $10.87 on the New York Stock Exchange.
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