News

Alexander & Baldwin separating into 2 publicly traded companies

December 1st, 2011

Hawaii News Now

The Board of Directors for Alexander & Baldwin, Inc. Have unanimously approved a plan to pursue separation of the Company to create two independent, publicly traded companies. According to A&B, one would be a premiere Hawai‘i-based land company which focuses on real estate development, commercial real estate and agriculture, and will keep the name Alexander & Baldwin, Inc. The second company, Matson, will focus on ocean transportation and logistics in the U.S. West coast, Hawai‘i, Guam, Micronesia and China. “Over the past decade, Alexander & Baldwin’s Board of Directors and management have periodically conducted strategic reviews, including an evaluation of the merits of separating into two companies. After thorough evaluation, we have concluded that the increased size, capabilities and financial strength of both our land and transportation businesses now enable these operations to independently execute their strategies to maximize shareholder value,” Alexander & Baldwin Chairman Walter A. Dods said. According to Dods, while the combined businesses have been successful in the past, the growth and development of both businesses can better achieve its full potential by operating separately. Under the new plan, A&B shareholders will own, upon the completion of a tax-free separation, one share of both A&B and Maston stock for each share of Company owned stock. The separation is expected to be completed in late 2012.

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