Matson, Inc.

• Author: Slaten, Russ
• Position: INSIDE ALASKA BUSINESS

Matson, Inc. and Horizon Lines, Inc. entered into a definitive merger agreement pursuant to which Matson will acquire the stock of Horizon, including its Alaska operations and the assumption of all non-Hawaii business liabilities. Separately, Horizon also announced that it has agreed to sell its Hawaii operations to the Pasha Group for $141.5 million and intended to shut down its Puerto Rico liner operations by the end of 2014.

Under the terms of the Horizon transaction, Matson will acquire Horizon for $0.72 per fully diluted common share, or $69.2 million, plus the repayment of debt outstanding at...