Ocean Network Express Pte. Ltd. together with the partners forming Poseidon Acquisition Corp. (Poseidon) has jointly announced with Atlas Corp. (Atlas) the closing of the previously announced transaction pursuant to which Poseidon has acquired all of the outstanding common stock of Atlas not already owned by the members of Poseidon.
In connection with the consummation of the merger, Atlas has requested that trading of its common stock on the New York Stock Exchange be suspended effective immediately. Atlas’ preferred stock will remain outstanding and continue to trade on the NYSE.
As a result of this transaction, ONE owns 28.7% share of Poseidon.
