ALEX News & Events

Alexander & Baldwin announced that a joint venture formed by an affiliate of MW Group and funds affiliated with Blackstone Real Estate and DivcoWest has completed its previously announced acquisition of all outstanding A&B common shares in an all-cash transaction with an enterprise value of approximately $2.3B, including outstanding debt. The closing of the transaction follows approval by A&B shareholders at the company's Special Meeting of Shareholders on March 9.

An investor group comprised of MW Group and funds affiliated with DivcoWest and Blackstone Real Estate is acquiring Alexander & Baldwin in a deal that is expected to close soon, pending final closing conditions.

Janney Montgomery Scott analyst Robert Stevenson downgraded Alexander & Baldwin to Neutral from Buy with a $21 price target fair value estimate after the company entered into an agreement in which a joint venture formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest will acquire Alexander for $21.20 per share in an all-cash transaction with an enterprise value of $2.3B.