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Kennedy Wilson boosts bid for KWE

Published 06/13/2017, 08:47 AM
© Reuters.  Kennedy Wilson boosts bid for KWE
KW
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  • The new offer values Kennedy Wilson Europe at 1,145p based on Kennedy Wilson's (NYSE:KW) close yesterday of $19.55 - that's 11.2% above the initial offer, and a 22.4% premium to KWE's price in late April.
  • The boosted price - which includes cash along with a special dividend - should allow the deal to move forward, says BTIG bull Mark Palmer, noting support from a fund which initially opposed the deal, as well as other key holdout shareholders.
  • Palmer reiterates his Buy rating and $33 price target, suggesting nearly 70% upside.
  • Now read: Paramount Group (PGRE) Presents At NAREIT's REITWeek Investor Forum - Slideshow


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