Asset supervisor Atlas Corp claimed on Thursday it obtained a requisition deal from consortium team Poseidon Acquisition Corp in an all-cash offer for $3.64 billion.
Poseidon, which makes up Atlas’ board chairman David Sokol, associates of Canadian investment firm Fairfax Financial Holdings Ltd, the Washington Family, as well as Japanese delivering firm Ocean Network Express Pte Ltd, has actually made a deal to the property supervisor for $14.45 money per typical share.
The deal stands for a 24.9% costs to Atlas’ shutting rate of $11.57 on Thursday at the New York Stock Exchange, based on Refinitiv information.
The board will certainly release an unique board containing independent supervisors to take into consideration the proposition, Atlas claimed.
Fairfax Financial, Washington Family as well as Sokol, together with their associates, jointly possess greater than 50% of the Atlas’ superior typical shares, the property supervisor claimed.
(Reuters – Reporting by Shivam Patel; Editing by Sherry Jacob-Phillips)
