Alexander & Baldwin (ALEX) Jumps to 3-Year High on $2.3 Billion Acquisition Deal

Core Viewpoint - Alexander & Baldwin, Inc. is experiencing significant stock performance due to a merger agreement that will take the company private for $2.3 billion, resulting in a notable increase in stock price and investor interest [1][4]. Group 1: Stock Performance - Following six consecutive days of losses, Alexander & Baldwin's stock reached an intra-day high of $20.97 before closing at $20.85, reflecting a 37.71% increase [2]. - The acquisition price of $21.20 per share represents a 40% premium over the stock's closing price on December 8 [4]. Group 2: Acquisition Details - The company has signed a definitive merger agreement with a joint venture formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest [3]. - The transaction is expected to close in the first quarter of 2026, pending customary closing conditions, including shareholder approval [5]. Group 3: Management Commentary - The Chairman of the Board, Eric Yeaman, expressed satisfaction with the agreement, highlighting its immediate value for shareholders and its potential to enhance the company's service capabilities in Hawai'i [5]. - The Board believes the merger is in the best interests of all stakeholders, providing a substantial cash premium for shareholders and long-term benefits for employees and communities [6]. Group 4: Dividend Announcement - Alexander & Baldwin declared a dividend of $0.35 for all common shareholders on record as of December 19, 2025, payable on January 8, 2026 [6].