Alexander & Baldwin Taken Private in $2.3 Billion Sale at $21.20 per Share
Alexander & Baldwin was acquired in an all-cash $2.3 billion transaction by a joint venture of MW Group, Blackstone Real Estate and DivcoWest. Shareholders approved on March 9, receiving $21.20 per share (net $20.85 after the $0.35 Q4 dividend), and the company’s stock has been delisted.
1. Transaction Overview
A joint venture formed by an affiliate of MW Group alongside funds affiliated with Blackstone Real Estate and DivcoWest completed an all-cash acquisition of all outstanding Alexander & Baldwin common shares for an enterprise value of approximately $2.3 billion, including outstanding debt.
2. Shareholder Approval and Payout
At the company’s Special Meeting on March 9, 2026, shareholders voted to approve the merger and received $21.20 per share in cash, with a net closing payment of $20.85 per share after deducting the previously paid $0.35 fourth-quarter 2025 dividend.
3. Delisting and Ownership Change
Following the closing, Alexander & Baldwin’s common stock ceased trading on the New York Stock Exchange, and the company is now privately held under the new ownership structure.
4. Buyer Consortium Composition
The acquiring investor group consists of an affiliate of Honolulu-based MW Group, global investment firm Blackstone Real Estate, and San Francisco–headquartered real estate firm DivcoWest.