Washington family

Atlas and Poseidon Announce Completion of Acquisition by Poseidon Acquisition Corp.

Retrieved on: 
Tuesday, March 28, 2023
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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 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.

Key Points: 
  • 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 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.
  • Citi is serving as financial advisor to ONE and Latham & Watkins LLP is serving as legal advisor to ONE.
  • Torys LLP is serving as legal advisor to Fairfax, K&L Gates LLP is serving as legal advisor to Washington, and Honigman LLP is serving as legal advisor to David Sokol and Poseidon.

BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations:) Oyster Point Pharma, Inc. (Nasdaq - OYST), Benefitfocus, Inc. (Nasdaq - BNFT), Abiomed, Inc. (Nasdaq - ABMD), Atlas Corp. (NYSE - ATCO)

Retrieved on: 
Tuesday, November 8, 2022
Poseidon, GLOBE, Brodsky, NYSE, Tripura Merger Agreement, Nasdaq, Fairfax Financial, J&J, Board, VOYA, Washington family, Fairfax, Achievement, Johnson & Johnson, Company, JNJ, Oyster Point, The Washington Family, Voya Financial, Security (finance), Abiomed, Viatris

If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847.

Key Points: 
  • If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847.
  • Under the terms of the agreement, Oyster Point will be acquired by Viatris Inc. (Nasdaq - VTRS).
  • Under the terms of the agreement, Benefitfocus will be acquired by Voya Financial, Inc. (Voya) (NYSE - VOYA).
  • Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits.

Atlas Corp. to be Acquired by Poseidon Acquisition Corp. for $15.50 in Cash Per Share

Retrieved on: 
Tuesday, November 1, 2022
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Under the terms of the agreement, Poseidon will acquire all outstanding common shares of Atlas not owned by Fairfax, Washington and Mr. Sokol for $15.50 per share in cash.

Key Points: 
  • Under the terms of the agreement, Poseidon will acquire all outstanding common shares of Atlas not owned by Fairfax, Washington and Mr. Sokol for $15.50 per share in cash.
  • The per share purchase price represents a 34% premium to Atlas unaffected share price as of August 4, 2022, the last trading day prior to a publicly disclosed proposal from Poseidon to acquire Atlas.
  • Atlas has continued to develop its long-term strategic partnerships and differentiated business model to position the Company for sustainable and quality growth.
  • 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.

Atlas Corp. to be Acquired by Poseidon Acquisition Corp. for $15.50 in Cash Per Share

Retrieved on: 
Tuesday, November 1, 2022
Annual report, Securities Exchange Act of 1934, Risk, CEO, Gibson, Dunn & Crutcher, Conference, SEC, Tunnell, Board, NYSE, Citigroup, ATCO, Securities Act of 1933, ONE, Honigman LLP, Judgement, Fairfax Financial, Committee, Company, Review, Washington family, Latham & Watkins, Schedule, Atlas Corporation, Torys, The Washington Family, Report of the Special Committee on the Termination of the National Emergency, Webcast, Multimedia, Proxy, New, Forward-looking statement, LLP, Morgan Stanley, Financial services, Security (finance), Seaspan ULC, Poseidon

Under the terms of the agreement, Poseidon will acquire all outstanding common shares of Atlas not owned by Fairfax, Washington and Mr. Sokol for $15.50 per share in cash.

Key Points: 
  • Under the terms of the agreement, Poseidon will acquire all outstanding common shares of Atlas not owned by Fairfax, Washington and Mr. Sokol for $15.50 per share in cash.
  • The per share purchase price represents a 34% premium to Atlas' unaffected share price as of August 4, 2022, the last trading day prior to a publicly disclosed proposal from Poseidon to acquire Atlas.
  • "Atlas has continued to develop its long-term strategic partnerships and differentiated business model to position the Company for sustainable and quality growth.
  • "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.

Poseidon Acquisition Corp. Continues Discussions to Acquire All Common Shares of Atlas Corp. Not Controlled by Consortium Members

Retrieved on: 
Thursday, October 6, 2022
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The Consortium does not expect to make any further announcements or updates unless and until a definitive agreement is executed or discussions with the Special Committee are terminated.

Key Points: 
  • The Consortium does not expect to make any further announcements or updates unless and until a definitive agreement is executed or discussions with the Special Committee are terminated.
  • Atlas shareholders and other interested parties are urged to read these materials if and when they become available because they will contain important information.
  • Atlas shareholders will be able to obtain such documents (when available) free of charge at the SECs web site, www.sec.gov.
  • No member of the Consortium assumes any obligation to publicly update any forward-looking statements except as required by law.

Poseidon Acquisition Corp. Continues Discussions to Acquire All Common Shares of Atlas Corp. Not Controlled by Consortium Members

Retrieved on: 
Thursday, October 6, 2022
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The Consortium does not expect to make any further announcements or updates unless and until a definitive agreement is executed or discussions with the Special Committee are terminated.

Key Points: 
  • The Consortium does not expect to make any further announcements or updates unless and until a definitive agreement is executed or discussions with the Special Committee are terminated.
  • Atlas shareholders and other interested parties are urged to read these materials if and when they become available because they will contain important information.
  • Atlas shareholders will be able to obtain such documents (when available) free of charge at the SECs web site, www.sec.gov .
  • No member of the Consortium assumes any obligation to publicly update any forward-looking statements except as required by law.

Poseidon Acquisition Corp. Unilaterally Increases Its Bid Price to Acquire All Common Shares of Atlas Corp. Not Controlled By Its Majority Shareholders to $15.50 Per Share in Cash

Retrieved on: 
Monday, September 26, 2022
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Poseidon Chairman David L. Sokol stated that the increased bid price represents Poseidons final and best offer.

Key Points: 
  • Poseidon Chairman David L. Sokol stated that the increased bid price represents Poseidons final and best offer.
  • The non-binding proposal was conveyed on September 26, 2022 in a letter to Atlas Special Committee.
  • Atlas shareholders and other interested parties are urged to read these materials if and when they become available because they will contain important information.
  • Atlas shareholders will be able to obtain such documents (when available) free of charge at the SECs web site, www.sec.gov.

LF Partners' Charles Frischer Sends Letter to Atlas Corporation Special Committee

Retrieved on: 
Monday, August 15, 2022
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My name is Charles Frischer and my family owns common shares and call options in Atlas Corporation that give us an economic interest in more than 1,349,000 shares.

Key Points: 
  • My name is Charles Frischer and my family owns common shares and call options in Atlas Corporation that give us an economic interest in more than 1,349,000 shares.
  • The management team at Atlas has executed brilliantly since David joined the company in 2017 and Bing in 2018.
  • One Ocean Network is the largest customer of Atlas, representing 25% of Atlas' revenue based upon year-end 2021 figures.
  • I know as the Special Committee you will do your duty to fight for minority shareholders and not sell out the minority owners.

Chairman of Atlas Corp., Fairfax Financial Holdings Limited and the Washington Family Partner With Ocean Network Express Pte. Ltd. To Jointly Propose Acquiring All Common Shares of Atlas Corp. Not Controlled by Its Majority Shareholders for $14.45 per Sha

Retrieved on: 
Thursday, August 4, 2022
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The non-binding proposal was conveyed on August 4, 2022 in a letter to Atlas Board of Directors.

Key Points: 
  • The non-binding proposal was conveyed on August 4, 2022 in a letter to Atlas Board of Directors.
  • Fairfax, the Washington Family, and David L. Sokol own or control approximately 68% of the fully-diluted outstanding common shares of Atlas and would continue their ownership in Atlas as part of the Consortium.
  • It is contemplated that all Atlas preferred shares would remain outstanding following the proposed transaction.
  • Atlas shareholders will be able to obtain such documents (when available) free of charge at the SECs web site, www.sec.gov.

Eight Resilient Horatio Alger Scholars Awarded Dennis Washington Leadership Graduate Scholarships

Retrieved on: 
Monday, August 30, 2021
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Endowed in 2008 and funded by the Dennis & Phyllis Washington Foundation in partnership with the Horatio Alger Association, the scholarship provides financial assistance to Horatio Alger Alumni Scholars who aspire to obtain graduate, professional, or doctoral degrees in business, engineering, law, medicine, applied sciences or education.

Key Points: 
  • Endowed in 2008 and funded by the Dennis & Phyllis Washington Foundation in partnership with the Horatio Alger Association, the scholarship provides financial assistance to Horatio Alger Alumni Scholars who aspire to obtain graduate, professional, or doctoral degrees in business, engineering, law, medicine, applied sciences or education.
  • The Dennis & Phyllis Washington Foundation was established in 1988 by Dennis Washington, chairman emeritus of the Horatio Alger Association, and his wife, Phyllis.
  • The Foundation, which supports deserving individuals to better society as a whole, established its Leadership Graduate Scholarship program to provide financial assistance exclusively to Horatio Alger undergraduate scholarship recipients who are committed to obtaining a graduate degree.
  • About Dennis & Phyllis Washington Foundation:
    Founded in 1988, the Dennis and Phyllis Washington Foundation is the major philanthropic organization for The Washington Companies and the Washington family.