Kennedy Wilson to Reacquire Shares
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Real estate investment fund Kennedy Wilson Inc. said it agreed to buy 741,000 of its shares, or about 8% of the company’s stock. The company did not identify the seller, except to say it was not a Kennedy executive.
The Beverly Hills company purchased 380,000 shares and has an option to buy the remaining 361,000 shares by Jan. 5. The total price for all 741,000 shares is $4.1 million.
The purchase is not part of a 500,000-share buyback program announced in June. Shares of Kennedy Wilson closed down 3 cents at $5.16 on Nasdaq.
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Roger Vincent
Inside the business of entertainment
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