Seaspan Announces Completion Of Acquisition Of Atlas By Poseidon Acquisition Corp.

LONDON, UK, March 28, 2023 /CNW/ - Seaspan Corporation, a wholly owned subsidiary of Atlas Corp., announced that the Company and Poseidon Acquisition Corp. ("Poseidon") 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, completed the previously announced transaction pursuant to which Poseidon acquired all outstanding common shares of Atlas not already owned by Fairfax, Washington and Mr. Sokol. 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 merged with and into the Company, with the Company continuing as the surviving company in the Merger.

 

In connection with the consummation of the Merger, the Company requested that trading of its common shares on the New York Stock Exchange be suspended with immediate effect.