M&A
confidence high
sentiment neutral
materiality 0.75
Kennedy-Wilson receives $10.25/share take-private proposal from CEO McMorrow and Fairfax
Kennedy-Wilson Holdings, Inc.
- Consortium led by CEO William McMorrow and Fairfax, owning ~31% of shares, offers $10.25 cash for remaining shares.
- Offer represents ~38% premium over Nov 3 NYSE closing price of $7.43.
- Proposal fully financed from Consortium liquidity; no financing condition.
- Board formed a special committee of independent directors to evaluate the proposal.
- No assurance that a definitive agreement or transaction will be consummated.