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Shipping M&A image Shipping M&A » By The Online Investor Staff, updated Thu., Mar. 28, 7:34 PM Recent mergers and acquisitions in the Shipping M&A category.

Slide #8. Matson, Inc. Assets of Reef Shipping

Acquirer: Matson, Inc. (NYSE:MATX)
Acquiree: Assets of Reef Shipping
Details: Matson, Inc., a leading U.S. carrier in the Pacific, announced today that it has signed a definitive agreement to acquire the primary assets formerly owned by Reef Shipping, a South Pacific shipping company based in Auckland, New Zealand that has been in business since 1968. The assets to be acquired include four vessels and approximately 1,500 pieces of container equipment. The financial terms of the agreement were not disclosed and the closing of the transaction is expected to occur on or about year-end.

Matson is a holding company. Through its subsidiaries, Co. is a provider of ocean transportation and logistics services. Co. consists of two segments, Ocean Transportation and Logistics. In its Ocean Transportation segment, Co. provides a vital lifeline of ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia through its wholly-owned subsidiary, Matson Navigation Company, Inc. (MatNav). In its Logistics segment, Matson Logistics, Inc., a wholly-owned subsidiary of MatNav, is an asset-light business that provides a variety of logistics services to its customers.

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Company Name: 
Matson Inc
Stock buyback: 
MATX buyback
Website: 
www.matson.com
Sector: 
Shipping
Number of ETFs Holding MATX: 
65
Total Market Value Held by ETFs: 
$966.34M
Total Market Capitalization: 
$3.75B
% of Market Cap. Held by ETFs: 
25.74%
 

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Buy (3.00 out of 4)
27th percentile
(ranked lower than approx. 73% of all stocks covered)

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