Alexander & Baldwin (ALEX) Approves Separation of Transportation and Land Businesses

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Alexander & Baldwin Holdings, Inc. (NYSE: ALEX) Board has unanimously approved the separation of the Company's transportation and land businesses into two publicly traded companies, subject to the satisfaction of certain customary conditions.

Following the separation, the transportation business (ocean transportation and logistics) will be operated under the name "Matson, Inc." ("Matson"), and will trade on the New York Stock Exchange under the ticker symbol "MATX." The land business (real estate and agriculture) will be operated under the name "Alexander & Baldwin, Inc." ("New A&B"), and will trade on the New York Stock Exchange under the ticker symbol "ALEX."

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