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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 investment trust company. Co.'s segments are: Commercial Real Estate, which functions as a vertically integrated real estate investment company with main competencies in investments and acquisitions, construction and development, and asset management; Land Operations, which involves the management of its historical landholdings primarily through planning and entitlement of real property to facilitate sales, selling undeveloped land, and other business activities to employ its landholdings; and Materials and Construction, which operates as Hawai‘i's asphalt paving contractor, natural materials and infrastructure construction company.
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Hold (2.00 out of 4)
(ranked lower than approx. 96% of all stocks covered)
Based on Zacks ABR data;
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