Alexander & Baldwin to purchase Grace Pacific for $235M

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Alexander & Baldwin, Inc. and Grace Pacific Corporation announced Thursday that they have entered into a definitive merger agreement.

A&B will acquire the privately held company for $235 million in stocks and cash.

Grace Pacific is one of Hawaii’s largest construction firms with 550 employees and 135 shareholders.

No layoffs are expected from the merger.

The merger is expected to be completed by the end of the year.

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