Ocean Network Express Pte. Ltd. together with the partners forming Poseidon Acquisition Corp. has jointly announced with Atlas Corp. the closing of the previously announced transaction pursuant to which Poseidon has acquired all of the outstanding common stock of Atlas not already owned by the members of Poseidon.
In connection with the consummation of the merger, Atlas has requested that trading of its common stock on the New York Stock Exchange be suspended effective immediately. Atlas’ preferred stock will remain outstanding and continue to trade on the NYSE.
As a result of this transaction, ONE owns 28.7% share of Poseidon.
About Poseidon Acquisition Corp.
Poseidon Acquisition Corp. is an entity formed by certain affiliates of Fairfax Financial Holdings Limited, certain affiliates of the Washington Family, David Sokol, Chairman of the Board of Atlas, and Ocean Network Express Pte. Ltd. and certain of their respective affiliates.
About Atlas Corp
Atlas is a global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on disciplined capital deployment to create sustainable shareholder value. We target long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals.
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International Trade Magazine
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