Alexander & Baldwin is Taken Private in $2.3 Billion Transaction

Core Points - Alexander & Baldwin ("A&B") has been taken private in a transaction valued at approximately $2.3 billion, including outstanding debt [1][2] - The acquisition was completed by a joint venture formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest [1] - Shareholders of A&B will receive $21.20 per share in cash, resulting in a net payment of $20.85 after accounting for a previously paid dividend [1] Company Overview - A&B is a Hawaii-based commercial real estate operator, focusing on grocery-anchored retail and select commercial assets [1] - The company owns and manages around 4.0 million square feet of commercial space in Hawaii, including 21 retail centers and 14 industrial assets [1] - A&B has a 156-year history and has played a significant role in the development of various industries in Hawaii [1] Investor Group Details - MW Group, a privately-held commercial real estate development company, has over $1 billion in commercial property acquisitions and management [1] - Blackstone Real Estate is a global leader in real estate investing, managing $319 billion in investor capital and owning a diverse range of commercial real estate assets [1] - DivcoWest is a vertically integrated real estate investment firm that has acquired approximately 61 million square feet of commercial space since its inception [1]