Kennedy-Wilson’s $10.90 Take-Private Deal Faces Dual Law Firm Investigations
Two law firms are investigating Kennedy-Wilson’s $10.90 per share take-private deal led by CEO William McMorrow and Fairfax Financial, citing concerns over special committee independence and disclosure completeness ahead of the June 10 shareholder vote. They warn that insiders could gain benefits unavailable to ordinary shareholders and limit competing offers.
1. Proposed $10.90 Take-Private Transaction
Kennedy-Wilson’s board has proposed a $10.90 per share take-private deal led by CEO William McMorrow and Fairfax Financial Holdings alongside other senior executives. The transaction would delist the firm from the NYSE upon closing, subject to a June 10, 2026 shareholder vote.
2. Law Firms Launch Investigations
Halper Sadeh LLC and Wohl & Fruchter have launched and renewed investigations into the fairness of the transaction, raising questions over the independence of the special committee and completeness of the disclosures provided to shareholders. The firms warn that certain insiders may receive additional benefits and that deal terms could deter superior competing bids.
3. Potential Impact and Timeline
The legal probes could result in demands for increased consideration or additional disclosures and may postpone the vote or closing timeline. Shareholders are being informed of their options on a contingent fee basis, allowing them to pursue remedies without upfront legal costs.