Johnson Fistel Investigates Alexander & Baldwin (ALEX) Shareholders’ Rights Following the Board’s Approval of a $21.20 Buyout Offer

Shareholder rights law firm Johnson Fistel, PLLP has launched an investigation into whether the board members of Alexander & Baldwin, Inc. (NYSE: ALEX) breached their fiduciary duties in connection with the proposed sale of the company to MW Group, Blackstone Real Estate, and DivcoWest.

If you own Alexander & Baldwin shares and believe this proposed transaction undervalues your investment, please consider joining our investigation.

Shareholders seeking more information may also contact lead analyst Jim Baker (jimb@johnsonfistel.com, 619-814-4471). If emailing, please include a phone number.

Background

• On December 8, 2025, Alexander & Baldwin announced that it had entered into a definitive merger agreement with MW Group, Blackstone Real Estate, and DivcoWest. Under the terms of the agreement, Alexander & Baldwin shareholders will receive $21.20 per share in cash for each share of common stock owned.

• The proposed $21.20 per-share acquisition price is materially below a Wall Street analyst forecast of $24 per-share.