Alexander & Baldwin to be acquired by Blackstone-led group for $21.20/share cash

Alexander & Baldwin, Inc.

Merger consideration $21.20 per share in cash; board unanimously approved.
Transaction expected to close in Q1 2026, subject to shareholder approval and customary conditions.
New owners plan to invest over $100M in portfolio; A&B retains name and Honolulu headquarters.
Company declares $0.35 Q4 2025 dividend payable Jan 8, 2026; merger consideration adjusted downward.
Termination fee $50.5M from A&B; reverse termination fee $155.3M from buyer group.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Alexander & Baldwin, Inc. entered into Agreement and Plan of Merger with Tropic Purchaser LLC and Tropic Merger Sub LLC valued at $21.20 per share cash consideration (effective 2025-12-08).

Action: entry
Agreement: merger
Counterparty: Tropic Purchaser LLC and Tropic Merger Sub LLC
Value: $21.20 per share cash consideration
Effective: 2025-12-08

Exact text from the filing

On December 8, 2025, Alexander & Baldwin, Inc., a Hawaii corporation (the " Company "), Tropic Purchaser LLC, a Delaware limited liability company (" Parent "), and Tropic Merger Sub LLC, a Hawaii limited liability company and wholly owned subsidiary of Parent (" Merger Sub " and, together with Parent, the " Parent Parties "), entered into an Agreement and Plan of Merger (the " Merger Agreement ").

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Source: SEC EDGAR

accession 0001104659-25-119462

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