ONE now holds 28.7% of Poseidon
Poseidon Acquisition Corp., an entity formed by certain affiliates of Fairfax Financial Holdings Limited, certain affiliates of the Washington Family, David Sokol, chairman of the board of Atlas, and Ocean Network Express (ONE) and certain of their respective affiliates, has closed 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 (Nyse) be suspended, effective immediately.
Atlas' preferred stock will remain outstanding and continue to trade on the Nyse. As a result of this transaction, ONE now owns a 28.7% share of Poseidon. (lh)