Atlas Corp. Announces Receipt of "Take Private" Proposal – QNT Press Release

LONDON, UK, Aug. 5, 2022 /PRNewswire/ – Atlas (“Atlas” or the “Company”) (NYSE:ATCO) announced today that its board of directors (the “Board”) has received a non-binding proposal letter, dated August 4, 2022from Poseidon Acquisition Corp. (“Poseidon”), an entity formed by certain affiliates of Fairfax Financial Holdings Limited (“Fairfax”), certain affiliates of the Washington Family (“Washington”), David SokolChairman of the Board of Atlas, and Ocean Network Express Pte. Ltd., and certain of their respective affiliates (the “Consortium”), to acquire all of the outstanding common shares of Atlas, other than common shares owned by Fairfax, WashingtonMr. Sokol and certain executive officers of the Company, for $14.45 cash per common share.

Fairfax, Washington and Mr. Sokol, together with certain of their respective affiliates, collectively own more than 50% of the Company’s outstanding common shares.

The proposal letter states that a transaction would be subject to two non-waivable conditions: approval and recommendation by a special committee of independent …

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