Prospect Acquisition shareholder to vote against Kennedy-Wilson deal

By Lisa Kerner

Charlotte, N.C., Nov. 9 - A group of investors led by Malibu Partners LLC bought 1,453,921 shares of Prospect Acquisition Corp. between Oct. 20 and Oct. 23 priced from $9.85 to $9.90 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Monday.

In September, Prospect Acquisition announced it will acquire Kennedy-Wilson, Inc.

Kennedy-Wilson shareholders will receive 3.8031 shares of Prospect common stock for each share of Kennedy-Wilson common stock held, a prior SEC filing said.

The transaction is expected to close on or before Saturday.

Kenneth J. Abdalla, a Malibu Partners affiliate, will vote his 6,458,249 shares, or 20.5% stake, against the proposed merger.

Kennedy-Wilson is a vertically integrated real estate investment and services company with its headquarters in Beverly Hills, Calif.

Prospect is a Naples, Fla., special-purpose acquisition company.

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