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Slide #56. Alexander & Baldwin, Inc. — Grace Pacific Corporation
Alexander & Baldwin, Inc. (NYSE:ALEX)
Grace Pacific Corporation
Alexander & Baldwin, Inc. (NYSE:ALEX) ("A&B" or "Company") and Grace Pacific Corporation ("Grace") today announced that they have entered into a definitive merger agreement for A&B to acquire the privately held Grace for a combination of stock and cash valued at $235 million. A&B also will be assuming projected net debt of approximately $42 million at closing. Grace is the State's preeminent infrastructure company, providing aggregate, hot mix asphalt and road construction and paving services. Grace was founded in Hawaii in 1931, and its operations are based exclusively in Hawaii.
Alexander & Baldwin is a real estate company. Co. operates in three segments: Commercial Real Estate, which owns, operates and manages retail, industrial and office properties in Hawaii and on the Mainland, and leases urban land in Hawaii to third-party lessees; Land Operations, which engages in planning, zoning, financing, constructing, purchasing, managing, selling, and investing in real property, renewable energy and diversified agribusiness activities; and Materials and Construction, which includes asphalt paving as prime contractor and subcontractor, imports and sells liquid asphalt, and manufactures and sells precast concrete products.
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Hold (2.00 out of 4)
(ranked lower than approx. 93% of all stocks covered)
Based on Zacks ABR data;
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