First Advantage to join S&P SmallCap 600, replacing Kennedy-Wilson
First Advantage Corporation (NASDAQ: FA) will replace Kennedy-Wilson Holdings Inc. (NYSE: KW) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, June 16.
The index change follows Kennedy-Wilson Holdings' pending acquisition by a consortium led by the company's CEO along with Fairfax Financial Holdings Limited. The acquisition deal is expected to close soon, pending final closing conditions.
S&P SmallCap 600 inclusion typically occurs when companies meet specific market capitalization, liquidity, and financial criteria established by S&P Dow Jones Indices. The index tracks the performance of small-cap U.S. companies.
First Advantage provides background screening and verification services. Kennedy-Wilson Holdings operates as a real estate investment and services company.