Kennedy Wilson Terminates Exchange Offers and Consent Solicitations

Proposed Acquisition by Consortium Led by William McMorrow and Fairfax Financial to Proceed

Mar. 31, 2026 at 12:52am

Got story updates? Submit your updates here. ›

A minimalist, photorealistic studio still life featuring a stack of financial documents, a pen, and a calculator arranged on a clean white background, symbolizing the corporate strategy and finance behind the proposed acquisition of Kennedy Wilson.The termination of Kennedy Wilson's exchange offers and consent solicitations clears the way for the proposed acquisition of the real estate investment firm by a consortium of executives and Fairfax Financial.Beverly Hills Today

Kennedy-Wilson, Inc., a wholly-owned subsidiary of global real estate investment company Kennedy-Wilson Holdings, Inc., has announced the termination of its previously announced offers to exchange any and all of its outstanding senior notes for newly issued notes, as well as the termination of its solicitation of consents to adopt certain amendments to the indentures governing the existing notes. The termination of these transactions does not impact the proposed acquisition of Kennedy Wilson by a consortium led by William McMorrow and Fairfax Financial Holdings Limited, which is expected to close in the second quarter of 2026.

Why it matters

The termination of the exchange offers and consent solicitations removes a potential obstacle to the proposed acquisition of Kennedy Wilson, allowing the transaction to proceed as planned. The deal will take the publicly traded real estate investment company private, marking a significant shift in the company's ownership structure.

The details

Kennedy-Wilson, Inc. has elected to terminate, effective immediately, its previously announced offers to exchange any and all of its outstanding senior notes for newly issued notes, as well as its solicitation of consents to adopt certain amendments to the indentures governing the existing notes. As a result, none of the existing notes that were tendered will be accepted for exchange, and no new notes will be issued. The existing notes will remain subject to their current indentures.

  • The termination of the exchange offers and consent solicitations was announced on March 31, 2026.
  • The proposed acquisition of Kennedy Wilson by the consortium led by William McMorrow and Fairfax Financial Holdings Limited is expected to close in the second quarter of 2026.

The players

Kennedy-Wilson, Inc.

A wholly-owned subsidiary of global real estate investment company Kennedy-Wilson Holdings, Inc.

Kennedy-Wilson Holdings, Inc.

A global real estate investment company that is the parent company of Kennedy-Wilson, Inc.

William McMorrow

The Chairman and Chief Executive Officer of Kennedy-Wilson Holdings, Inc.

Fairfax Financial Holdings Limited

A holding company primarily engaged in property and casualty insurance and reinsurance, as well as investment management, that is part of the consortium acquiring Kennedy Wilson.

Got photos? Submit your photos here. ›

What’s next

The proposed acquisition of Kennedy Wilson by the consortium led by William McMorrow and Fairfax Financial Holdings Limited is expected to close in the second quarter of 2026.

The takeaway

The termination of the exchange offers and consent solicitations clears the way for the proposed acquisition of Kennedy Wilson, a major real estate investment company, by a consortium led by its own executives and Fairfax Financial Holdings. This transaction will take the publicly traded company private, marking a significant shift in its ownership structure.