ONE and partners confirm US$3.64 billion Atlas Corp takeover offer
The Singaporean-headquartered container carrier Ocean Network Express (ONE) is a member of the Poseidon Acquisition Corp, a consortium that has proposed to acquire all the outstanding common shares of Atlas Corp that are not owned or controlled by the consortium members.
Atlas Corp said on 4 August that it has received a takeover offer from the consortium group in an all-cash deal for US$3.64 billion.
Poseidon Acquisition Corp comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family and ONE.
The consortium has made an offer to the asset manager Atlas Corp, whose assets include the world’s largest containership leasing company Seaspan, for US$14.45 cash per common share.
ONE confirmed that the non-binding proposal was conveyed on 4 August 2022 in a letter to Atlas’ Board of Directors from the Consortium.
Atlas said the board will launch a special committee consisting of independent directors to consider the proposal.
Source: Container News
Related News
10/06
2026
The update of the Wan Hai Bunker Surcharge (WBS) for Q3/2026 by Wan Hai Lines (WHL) aims to proactively manage operational costs amidst the continuous fluctuations in global oil prices, while complying with stringent clean fuel standards in international maritime transport. This periodic adjustment helps ensure the maintenance of service quality and the stability of shipping routes departing from key southern port clusters (Ho Chi Minh City, Dong Nai, Ba Ria - Vung Tau) to global markets.
05/05
2026
The revised surcharge will take effect from June 1, 2026 (based on gate-in date) and will remain applicable until further notice.
25/03
2026
The global aviation industry is facing a new wave of disruption as ongoing tensions in the Middle East continue to put pressure on jet fuel costs, flight operations, and the overall stability of international air networks. The impact is no longer limited to routes passing directly through conflict-affected areas. Instead, it is now spreading across multiple markets, driving higher airfares while also increasing the risk of flight delays and cancellations on a broader scale.