Welcome to our dedicated page for Atlas Corporation news (Ticker: ATCO), a resource for investors and traders seeking the latest updates and insights on Atlas Corporation stock.
Atlas Corp. (ATCO) appears frequently in financial and corporate news through its ongoing communications with investors and holders of its securities. Press releases issued from London, United Kingdom, describe Atlas as a global asset management company focused on high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Many of the company’s recent announcements concern its preferred share capital and related corporate actions.
News items for ATCO prominently feature quarterly dividend declarations on preferred shares. Atlas has repeatedly announced cash dividends on its Series D and Series H preferred shares, identified in the releases by tickers such as ATCO PD and ATCO PH, as well as on its Series J preferred shares. These releases provide details on dividend amounts, record dates and payment dates for each dividend period, giving income-focused investors insight into the timing and terms of preferred distributions.
Another category of Atlas-related news covers capital structure changes and redemptions. The company has issued releases on the full redemption of its Series I preferred shares and, through SEC filings, has reported the redemption of all outstanding Series H preferred shares. These events are relevant for investors tracking the evolution of Atlas’s preferred equity and the status of specific series.
Corporate transaction news is also part of the ATCO story. A press release details the completion of the acquisition of Atlas by Poseidon Acquisition Corp., in which a merger subsidiary combined with Atlas and Atlas requested the suspension of trading of its common shares on the New York Stock Exchange, described as a delisting. This type of news is important for understanding changes in ownership and listing status.
In addition, news related to Seaspan Corporation, a wholly owned subsidiary and one of Atlas’s main portfolio companies, appears in the same news stream. These items describe Seaspan’s activities in containership leasing and alternative-fuel vessel programs, illustrating the operational context behind Atlas’s asset management focus on maritime infrastructure.
Investors and observers using the ATCO news page can review this mix of dividend announcements, preferred share redemptions, merger developments and Seaspan operational updates to understand how Atlas communicates its capital decisions and portfolio activity over time.
Seaspan Corporation, a subsidiary of Atlas Corp, has revised the summons for a bondholders' meeting regarding its senior unsecured bonds maturing in April 2026. This decision follows Atlas's announcement on November 1, 2022, about its acquisition by Poseidon Acquisition Corp. The bondholders' meeting is scheduled for December 16, 2022, at 13:00 CET. DNB Markets is acting as the financial advisor for Seaspan. The company continues to focus on long-term leases with major container shipping lines, boasting a fleet capacity of 1,919,230 TEU upon full delivery.
Seaspan, a subsidiary of Atlas Corp., has called a bondholders' meeting on December 16, 2022, to discuss amendments to senior unsecured bonds maturing in April 2026. This follows Atlas's announcement on November 1, 2022, regarding its acquisition by Poseidon Acquisition Corp. DNB Markets is the financial advisor for Seaspan. As of September 30, 2022, Seaspan operates a fleet of 129 vessels and has 61 vessels under construction, aiming for a total capacity of 1,919,230 TEU.
Edwards, a leader in vacuum products for the semiconductor sector, is expanding its footprint in the U.S. with a new manufacturing facility in Western New York’s Science and Technology Advanced Manufacturing Park. The initial phase involves a $127 million investment for a 240,000 sq. ft. plant, expected to total $319 million over seven years and create around 600 jobs. This facility aims to support growing semiconductor demand, ensuring supply chain stability, and will operate on 100% renewable energy. The initiative aligns with LEED certification, promoting sustainability.
Atlas Corp. (NYSE: ATCO) reported a 2.7% decrease in revenue to $439.6 million for Q3 2022, compared to Q3 2021. However, net earnings rose to $185.7 million, yielding a diluted EPS of $0.59. Adjusted EBITDA fell 9.7% to $291.1 million. The company maintains a strong liquidity position of $1.3 billion and has fixed approximately 70% of its borrowings. Notably, a merger agreement with Poseidon Acquisition at $15.50 per common share awaits approval. Atlas also achieved a BB+ credit rating, bolstering investor confidence.
Atlas (NYSE: ATCO) has signed a definitive agreement for Poseidon Acquisition Corp. to acquire Atlas for approximately $10.9 billion in an all-cash transaction. Poseidon will pay $15.50 per share, representing a 34% premium over the unaffected share price prior to the acquisition proposal. The agreement involves Fairfax, Washington, and Mr. Sokol, who currently own about 68% of Atlas shares. The deal is expected to close in the first half of 2023, pending shareholder and regulatory approvals.
Atlas Corp. (NYSE: ATCO) will release its financial results for Q3 2022 on November 1, 2022, after market close. A conference call is scheduled for November 2, 2022, at 8:30 a.m. ET, where management will discuss the results. Participants can register online for the call and are encouraged to do so in advance to avoid delays. A replay will be available for 24 hours post-call. Atlas focuses on disciplined capital deployment to achieve sustainable shareholder value across maritime and energy infrastructure sectors.
Atlas Corp. (NYSE: ATCO) announced that its Special Committee is in negotiations with Poseidon Acquisition Corp. regarding a potential acquisition of all outstanding common shares not already owned by the Consortium at a cash price of $15.50 per share. Shareholders will also receive third and fourth quarter dividends. However, Atlas emphasizes that no binding agreement has been reached and discussions are subject to significant contingencies. The company cautions that any transaction remains uncertain and will only be confirmed with a definitive agreement.
Poseidon Acquisition Corp. and its consortium, including Fairfax Financial Holdings, aim to acquire all outstanding shares of Atlas Corp. (NYSE: ATCO) at $15.50 per share in cash, plus dividends for Q3 and Q4 2022. The discussions, still in preliminary stages, require due diligence, financing confirmation, and a definitive agreement. Majority approval from Atlas shareholders is necessary for the transaction's completion. No binding agreement exists, and no further updates will be made unless a definitive agreement is reached.
Atlas Corp. (NYSE: ATCO) has declared cash dividends for its common and preferred shares, reinforcing its commitment to shareholders. The common share dividend is set at $0.125 for the period from July 1 to September 30, 2022, with a record date of October 20, 2022, and payment date on October 31, 2022. Preferred shares include Series D at $0.496875, Series H at $0.492188, Series I at $0.500, and Series J at $0.4375, all payable on October 31, 2022. This marks the 69th consecutive dividend payment, reflecting the company's ongoing dedication to providing value.
Atlas Corp. (NYSE: ATCO) has received a revised, non-binding acquisition proposal from Poseidon Acquisition Corp., offering $15.50 per share for outstanding common shares, excluding those held by Fairfax and others. The special committee of independent directors is reviewing the proposal, noting that the initial offer of $14.45 was deemed insufficient. Atlas cautions shareholders that the revised proposal is only an indication of interest and does not constitute a binding agreement. The company emphasizes its strong, long-term cash flows from charter operations while advising that no decision has been made yet regarding the proposal.