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For more information, visit atlascorporation.com. Atlas plans to release its financial results for the quarter ended September 30, 2022, after the market closes on Tuesday, November 1, 2022. We are using cookies to give you the best experience on our website. The Company continues to expect that the merger will be completed in the first half of 2023, and based upon the current status of regulatory approvals, consents and other customary closing conditions the merger could close as early as March 31, 2023, subject to based upon the current status of all required conditions. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. View and read historical press releases from 2005 to present. Examples of forward-looking statements include, but are not limited to, statements that relate to Mastercards future prospects, developments and business strategies, as well as Mastercards acquisition and operation of Ekata. The top eight liners account for approximately 80% of the market share by TEU capacity as of August 2022, while Atlas top three customers (COSCO, Yang Ming, ONE) have contributed over 60% of its annual revenue since FY2019, based on Atlas annual reports. Central to creating trust in a digital world is the ability to prove your digital identity - who you are, whether you are interacting in person, online or in app. Will KostlivyInvestor RelationsAtlas Corp.Tel. This transaction is a testament to our teams unwavering commitment to customers and consistent execution. For additional information on other factors related to Mastercards overall business that could cause Mastercards actual results to differ materially from expected results, please see the companys filings with the Securities and Exchange Commission, including the companys Annual Report on Form 10-K for the year ended December 31, 2020, and any subsequent reports on Forms 10-Q and 8-K. Ekata Inc, is the global leader in digital identity verification solutions that provide businesses worldwide the ability to link any digital transaction to the human behind it. Azerion is a high-growth digital entertainment and media platform. You should carefully review and consider the various disclosures included in Atlas' Annual Report and in Atlas' other filings made with the SEC that attempt to advise interested parties of the risks and factors that may affect Atlas' businesses, prospects and results of operations. Morgan Stanley & Co. LLC is serving as financial advisor to the Special Committee and Gibson, Dunn & Crutcher LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as legal advisors to the Special Committee. The consortium has sent a non-binding proposal letter to Atlas offering to acquire common shares of the asset manager for $14.45 in cash. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. APR Energy is the world's largest mobile gas turbine fleet owner and operator, providing its power assets to large corporations and utilities. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Atlas shareholders and other interested parties are urged to read these materials if and when they become available because they will contain important information. Poseidon Acquisition Corp. acquires Atlas for US$10.9 billion in an all-cash transaction November 1, 2022 Atlas Corporation, the parent company of Seaspan, has accepted the buyout offer by Poseidon Acquisition Corp. and the consortium will acquire the New York-listed company for around US$10.9 billion. Each Atlas common share issued and outstanding immediately prior to the effective time of the Merger, other than common shares held by Fairfax, Washington and Mr. Sokol, was converted into the right to receive $15.50 per share in cash. Atlas to Host Conference Call November 2 at 8:30 a.m. Eastern Time. Atlas Corp. to be Acquired by Poseidon Acquisition Corp. for $15.50 in Cash Per Share. Ltd. ("ONE"), and certain of their respective affiliates, today announced the completion of the previously announced transaction pursuant to which Poseidon acquired all outstanding common shares of Atlas not already owned by Fairfax, Washington and Mr. Sokol. Atlas Announces Shareholder Meeting Date in Connection with Poseidon Acquisition. Upon the closing of the transaction, Atlas common shares will cease trading on the New York Stock Exchange ("NYSE"). Atlas is a leading 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. Fairfax Financial Holdings Atlas will continue payment of all ordinary course quarterly dividends regardless of the timing of any closing, according to a statement. Asset manager Atlas ( NYSE: ATCO) shares gained 22% premarket on Friday after the company announced that it received a takeover offer from consortium group Poseidon Acquisition Corp for the. With APR Energys modest US$61mm revenue contribution for the half year ending June 30, 2022, we cannot rely on APR Energy to hedge the impending downturn in Atlas containership leasing business. LONDON and TORONTO, March 28, 2023 (GLOBE NEWSWIRE) -- Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO) and Poseidon Acquisition Corp. ("Poseidon"), an entity formed by certain. +1-888-829-0013, Email: IR@atlascorporation.com; Media Inquiries: James Golden / Nick Lamplough, Joele Frank, 212-355-4449; Consortium Contacts: David L. Sokol, Email: sokol@poseidonacq.com; Fairfax Financial Holdings Limited Contacts: John Varnell, Vice President, Corporate Development, Tel. Atlas Corp. 20 Jan, 2023, 08:00 ET. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Fairfax Financial Holdings Limited Contacts: John VarnellVice President, Corporate DevelopmentTel. Each of the Merger and the delisting constitutes a Make-Whole Fundamental Change under that certain indenture dated as of December 21, 2020, by and among the Company, Seaspan Corporation, a wholly owned subsidiary of the Company and The Bank of New York Mellon, as trustee, governing the exchangeable senior notes due 2025. You are cautioned not to rely on these forward-looking statements, which speak only as the date of this release. London, United Kingdom WIJ 6HE. ", "Poseidon Acquisition Corp. is pleased to have reached this agreement to acquire the Atlas Corp. shares not previously owned by our shareholders," said Mr. Sokol. Morgan Stanley & Co. LLC is serving as financial advisor to the Special Committee and Gibson, Dunn & Crutcher LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as legal advisors to the Special Committee. They help their customers identify good consumers and businesses and bad actors in real-time during online account opening, payments and variety of other digital interactions. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We target long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. In addition, these documents will be made available, free of charge, to shareholders of Atlas who make a written request to the investor contacts named in this release. 8 min read Atlas to Host Conference Call November 2 at 8:30 a.m. Eastern Time That framework is now in use across a number of sectors, from education to . As a result, you are cautioned not to rely on any forward-looking statements. 23 Berkley Square See here for a complete list of exchanges and delays. This means that every time you visit this website you will need to enable or disable cookies again. Atlas vessels may turn obsolete well ahead of the currently envisaged useful lives, thereby adversely impacting Atlas expected return on investment and value vis--vis the companys current business plan. This dilution is driven by investments in the business, including the impact of purchase accounting and integration related costs. If you disable this cookie, we will not be able to save your preferences. Each Atlas common share issued and outstanding immediately prior to the effective time of the Merger, other than common shares held by Fairfax, Washington and Mr. Sokol, was converted into the right to receive $15.50 per share in cash. 3. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements found in the Companys filings with the SEC, which include, but are not limited to, those found in the Companys Annual Report on Form 20-F for the year ended December 31, 2022, filed with the SEC on March 16, 2023, the Companys Proxy Statement filed as an exhibit to Schedule 13e-3, filed with the SEC on January 9, 2023, and the Companys other filings with the SEC. We therefore urge the Special Committee to carefully consider the implications of the prevailing macroeconomic weakness and rising cost of capital on Atlas business, cash flows and valuation. The transaction is expected to close in the first half of 2023, subject to approval by holders of a majority of Atlas common shares not owned by Poseidon and its affiliates and certain closing conditions, including receipt of regulatory approvals and third-party consents. This website uses cookies so that we can provide you with the best user experience possible. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. If demand continues to soften, Atlas liner customers may utilize their own vessels rather than in-charter to manage capacity needs. Information on the Company's website is not part of this release. Any solicitation or offer will only be made through materials filed with the Securities and Exchange Commission (the SEC). You can adjust all of your cookie settings by navigating the tabs on the left hand side. We believe this transaction with Poseidon is an exciting culmination of those efforts for our shareholders," said Bing Chen, President and CEO Atlas Corp. "As we look at the industry's trajectory, we believe the financial, operational and strategic flexibility we will gain as a privately held company with this group of owners and investors will position Atlas, our employees and customers for greater opportunity. Following completion of the transaction, Washington and Fairfax will own a majority of the equity of Atlas. Working with us means working in a place where your professional and personal growth is of the highest priority. APR Energys contracts are generally short-term in nature. 4. Morgan Stanley & Co. LLC is serving as financial advisor to the Special Committee and Gibson, Dunn & Crutcher LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as legal advisors to the Special Committee. LONDON & TORONTO--(BUSINESS WIRE)--Poseidon Acquisition Corp., on behalf of a consortium composed of David L. Sokol, Chairman of the Board of Directors of Atlas Corp. (NYSE: ATCO) (Atlas or the Company), certain affiliates of Fairfax Financial Holdings Limited (collectively, Fairfax)(TSX: FFH and FFH.U), the Washington Family, and Ocean Network Express Pte. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. 1. Members of the Poseidon consortium already own more than 50% of Atlas's shares. You are cautioned not to rely on these forward-looking statements, which speak only as the date of this release. Such factors related to the completion and impact of the acquisition include, but are not limited to, whether all necessary conditions will be met, and whether the transaction will close on agreed terms and in a timely manner. LONDON and TORONTO, March 28, 2023 (GLOBE NEWSWIRE) -- Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO) and Poseidon Acquisition Corp. ("Poseidon"), an entity formed by certain. Atlas Shareholders Approve Merger with Poseidon Acquisition Corp. LONDON, UK, Feb. 24, 2023 /CNW/ - Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO) today announced that, at its annual meeting of shareholders held today, February 24, 2023 (the "Annual Meeting"), its shareholders approved by the required votes the proposal to adopt and . Keeping this cookie enabled helps us to improve our website. The 20-year US Treasury bond is up approximately 210 basis points, while the 10-year LIBOR swap rate is up approximately 225 basis points over the last twelve months. In accordance with the requirements of the Merger Agreement, the Merger Proposal was adopted and approved at the Annual Meeting by the affirmative vote of both (1) the holders of a majority of the issued and outstanding Atlas common shares and (2) the holders of a majority of the issued and outstanding Atlas common shares beneficially owned by the Unaffiliated Shareholders (as defined in the Merger Agreement). The industry leader for online information for tax, accounting and finance professionals. These risks and uncertainties include the risks that the transactions contemplated by the Merger Agreement may not be consummated due to the failure to satisfy conditions to completion of the merger, the occurrence of any event, change or other circumstance that gives rise to the termination of the Merger Agreement or otherwise. Atlas preferred shares will continue trading on the NYSE under current terms. Mr. Chen will continue to serve as President and CEO of Atlas and will contribute his equity in Atlas to become an owner of the Company along with Poseidon. Inflation remains a key concern to major economies, with the US Labor Departments index reporting consumer price inflation of 8.3% year-on-year for August 2022. These forward-looking statements are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond Atlas' control (including actions by third parties and regulatory authorities). By bringing the capabilities, technologies and teams together, there is the potential to deliver even more trust and peace of mind, well beyond identity verification and identifying fraud trends. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The information and documents contained in this area of the website are accessible only to persons who are not currently located in the United States of America, or currently located in or resident in Canada, Japan, Australia, or in any other jurisdiction in which accessing the information and documents contained in this area of the website would require the authorization of the relevant regulatory authorities (the "Other Countries"). Atlas Corp. Atlas is a leading 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. Citi is serving as financial advisor to ONE and Latham & Watkins LLP is serving as legal advisor to ONE. A copy of the letter is attached to this release. Certain participants in the transaction between Atlas and Poseidon will prepare and file with the SEC a Schedule 13E-3 Transaction Statement, which will contain important information on Atlas, the parties to the transaction, the transaction and related matters, including the terms and conditions of the transaction. No information contained on any website referenced in this press release is incorporated by reference herein. Following the completion of the transaction, Washington and Fairfax will own a majority of the equity of Atlas, while Chen will continue to serve as president and CEO of Atlas and will contribute his equity in Atlas to become an owner of the company along with Poseidon. Forward-looking statements in this release are estimates and assumptions reflecting the judgment of senior management and involve known and unknown risks and uncertainties. To attend the conference call or webcast, participants should register online at ir.atlascorporation.com/events-and-presentations, and you will be provided with details to access the event. Atlas will continue payment of all ordinary course quarterly dividends regardless of the timing of any closing. I want to thank all Atlas employees for their continued dedication and hard work. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. The Schedule 13E-3 and all other documents filed with the SEC in connection with the transaction will be available when filed, free of charge, on the SEC's website at www.sec.gov. Atlas preferred shares will continue trading on the NYSE under current terms. When typing in this field, a list of search results will appear and be automatically updated as you type. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Poseidon Acquisition Corp comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family and ONE. You should carefully review and consider the various disclosures included in Atlas' Annual Report and in Atlas' other filings made with the SEC that attempt to advise interested parties of the risks and factors that may affect Atlas' businesses, prospects and results of operations. Post-announcement, 2-year Treasury yields crossed 4% for the first time since 2007. Atlas is a leading 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. Atlas is a leading 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. In an effort to reach a conclusion and bring certainty to Atlas and its shareholders, we are hereby increasing our offer from $14.45 to $15.50 per common share. See here for a complete list of exchanges and delays. For more information visit atlascorporation.com. We target long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The prohibition to disclose, make available or distribute the information and documents contained in this area of the website includes the distribution or disclosure of such information and documents into or from the United States of America, Canada, Australia or Japan through any form of communication or international or national commerce (including by way of example only and without limitation by mail, fax, e-mail, telephone and Internet). LONDON, UK, Nov. 1, 2022 /CNW/ -Atlas ("Atlas" or the "Company") (NYSE: ATCO) and Poseidon Acquisition Corp. ("Poseidon"), an entity formed by certain affiliates of Fairfax Financial Holdings Limited ("Fairfax"), certain affiliates of the Washington Family ("Washington"), David Sokol, Chairman of the Board of Atlas, and Ocean Network Express Pte. Ltd. ("ONE"), and certain of their respective affiliates, today announced the completion of the previously announced transaction pursuant to which Poseidon acquired all outstanding common shares of Atlas not already owned by Fairfax, Washington and Mr. Sokol. Seaspan has a fleet of 127 container ships as of June 30, making it the largest independent owner and operator of such vessels globally, according to Atlas's website. Morgan Stanley & Co. LLC is serving as financial advisor to the Special Committee and Gibson, Dunn & Crutcher LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as legal advisors to the Special Committee. , . "The shift to a more digital world requires real solutions to secure every transaction and instill trust in every interaction," said Ajay Bhalla, president of cyber and intelligence solutions at Mastercard. LONDON and TORONTO, March 28, 2023 /PRNewswire/ - Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO) and Poseidon Acquisition Corp. ("Poseidon"), an entity formed by certain affiliates of. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. View and read historical press releases from 2005 to present. Reproduction in whole or in part without permission is prohibited. This letter does not include or constitute a binding offer to acquire Atlas or any of its securities or assets, or a proposal of definitive terms for any transaction. For more information visit atlascorporation.com. Fairfax, Washington and Mr. Sokol currently own approximately 68% of the outstanding common shares. Ltd. ("ONE"), and certain of their respective affiliates today announced they have entered into a definitive agreement under which Poseidon will acquire Atlas in an all-cash transaction for an enterprise value of approximately $10.9 billion. sokol@poseidonacq.com, Fairfax: John Varnell, Vice President, Corporate Development - +1-416-367-4941, Internet Explorer presents a security risk. "We all look forward to continuing our relationship with our talented CEO Bing Chen and the excellent Atlas, Seaspan and APR Energy employees under his direction.". Fairfax, Washington and Mr. Sokol currently own approximately 68% of the outstanding common shares. Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This transaction is a testament to our team's unwavering commitment to customers and consistent execution. It has been more than seven weeks since the submission of our offer to take Atlas Corp. (Atlas) private on August 4, 2022. Pursuant to the terms of the Agreement and Plan of Merger, dated October 31, 2022, by and among the Company, Poseidon and Poseidon Merger Sub, Inc. (Merger Sub), Merger Sub merged with and into the Company (the Merger), with the Company continuing as the surviving company in the Merger. I look forward to continuing to work with David and the rest of the Atlas team as we continue our progress, including preparing for the launch of our new vessel fleet, which we expect to be fully delivered by 2024., Poseidon Acquisition Corp. is pleased to have reached this agreement to acquire the Atlas Corp. shares not previously owned by our shareholders," said Mr. Sokol. Copyright Container News 2021, All Rights Reserved. These statements are based on current expectations of future events, are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Companys control and are difficult to predict. Record Vessel Deliveries in the Near-Term. Gross fleet capacity is expected to grow by a record 8.2% in 2023, significantly outpacing forecasted throughput growth at 2.7%. Based on Clarksons Researchs Shipping Intelligence Weekly on September 16, 2022, charter rates are also dropping in the larger size ranges despite tight tonnage availability, with the Clarksons index falling 26% week-on-week. For more information visit atlascorporation.com.