This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Alexander & Baldwin's CEO Hosts Analyst Day - Conference Call Transcript

Then turning to slide seven, having build up that business, we have decided now separation, it’s, whenever I meet with investors they ask us, well, why do you have, real estate and ag business together with shipping company and it’s, I’d just explain to you why we have that.

But, it’s a good question, especially as the company has grown over the years and some of the synergies that previously existed between the two businesses no longer exit. So it’s a question we’ve look at ourselves every couple years last 10 years, there was also recent evaluation, which we started in very early 2011.

We eventually reached the conclusion that indeed the time is right to separate the two companies, there a lot of benefits here which we’ve listed on the left hand side of the slide.

But essentially we’ve grown two companies large enough and strong enough, and different enough certainly to stand on their own, and be successful as independent public company. So on December 1 our Board approved that decision we announced that on that date.

Quick update on where we are on separation. We are on track for third quarter closing. We have submitted all the necessary documents with the SEC and IRS, and we expect receive those approvals in due course.

This will be structured as a tax free spin-off. It’s actually the real estate and ag business that will be spin-off, and we will keep however the name Alexander & Baldwin, Matson will operate under its name Matson Navigation Company.

We just got approval just the other day of our S-4 proxy. So that is now official and has been mailed out to our shareholders, Annual Meeting will be on May 11th. One of the items that will be vote upon on shareholders is the structure of the separation, not the separation itself that doesn’t require shareholder approval.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,782.99 -15.50 -0.09%
S&P 500 2,087.24 -2.87 -0.14%
NASDAQ 5,108.5420 -18.9830 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs