Alexander & Baldwin to be taken private for $21.20 per share, or $2.3B

Alexander & Baldwin announced that it has entered into a definitive merger agreement in which a joint venture formed by MW Group and funds affiliated with Blackstone (BX) Real Estate and DivcoWest, will acquire all outstanding A&B common shares for $21.20 per share in an all-cash transaction with an enterprise value of approximately $2.3B, including outstanding debt. As a result of this transaction, A&B will become a private company. The transaction, which was unanimously approved by the A&B Board of Directors, is expected to close in the first quarter of 2026, subject to customary closing conditions including approval by the company’s shareholders. Upon completion of the transaction, A&B’s common stock will no longer be listed on the NYSE. A&B also announced that its Board of Directors approved a fourth quarter 2025 dividend of $0.35 per share. The dividend is payable on January 8, 2026, to shareholders of record as of the close of business on December 19, 2025. Under the terms of the merger agreement, the per-share consideration that shareholders will receive at the closing of the transaction will be reduced to reflect this dividend.