M&A · Financials · Real Estate
Fairfax Financial and Bill McMorrow to acquire Kennedy-Wilson Holdings, Inc.
Announced Feb 17, 2026 · Closed Jun 16, 2026
Deal value$1.50BEV $1.12B
Premium45.9%To unaffected price
EV / Adj. EBITDA6.2x2.2x EV / Revenue
ConsiderationAll cash$10.90 per share
Transaction
- Acquirer
- Fairfax Financial and Bill McMorrow
- Target
- Kennedy-Wilson Holdings, Inc. (KW)
- Buyer type
- Strategic
- Offer price per share
- $10.90
- Enterprise value
- $1.12B
- Status
- Closed Jun 16, 2026
Deal protections
- Break fee (target pays)
- $42.7M · 2.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Moelis
- Moelis fee
- $2.5M
Sector context · Financials
- Comparable deals
- 71 in the prior 24 months
- Premium
- 45.9% vs. 38.5% sector median
- EV / Adj. EBITDA
- 6.2x vs. 14.9x sector median
- Break fee
- 2.8% vs. 3.7% sector median
Timeline
- AnnouncedFeb 17, 2026
- Proxy filedMar 20, 2026
- Definitive proxyMay 5, 2026
- Shareholder voteJun 10, 2026
- ClosedJun 16, 2026
Valuation · fairness opinions
Trading comparables$6.01$17.65
Precedent transactions$8.53$21.24
Precedent transactions$2.03$6.77
Other analysis$10.44$17.29
Trading comparables$6.32$11.72
Offer $10.90
Implied value per Kennedy-Wilson Holdings, Inc. share by analysis, from Moelis.