Alexander & Baldwin to be taken private in $2.3 billion all-cash buyout
Dec 8 (Reuters) - Hawaii-based commercial real estate investment fund Alexander & Baldwin ALEX.N said on Monday that it will be taken private by a group of investors led by MW Group in an all-cash deal that values the company at about $2.3 billion.
Alexander & Baldwin shareholders will receive $21.20 per share in cash, which represents a 40% premium on the company's stock price as of last close.
The company's shares jumped 37% in extended trading. The deal is expected to close in the first quarter of 2026.
A&B, which will retain its name, brand and Honolulu headquarters after the buyout, owns grocery-anchored shopping centers in Hawaii, including 21 retail centers, 14 industrial assets and four office properties.
The investor group includes Hawaii-based real estate firm MW Group, Blackstone Real Estate, as well as California-headquartered DivcoWest.
The group plans to invest more than $100 million to upgrade A&B's properties, the company said.
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