Atlas Announces Shareholder Meeting Date in Connection with Poseidon Acquisition

Rhea-AI Summary

Atlas Corp. (NYSE: ATCO) has scheduled its Annual Meeting of Shareholders for February 24, 2023, where shareholders will vote on the Agreement and Plan of Merger with Poseidon Acquisition Corp. and Poseidon Merger Sub, Inc. The meeting will take place virtually at 2:00 p.m. London Time. Shareholders of record as of January 9, 2023 are eligible to vote, with details available in the Proxy Statement submitted to the SEC on January 9. This merger reflects Atlas's commitment to sustainable shareholder value through disciplined capital deployment.

Positive

• Approval of the Merger Agreement could lead to enhanced operational efficiencies.
• The merger is expected to create synergies that may improve long-term financial performance.

Negative

• Approval of the merger is contingent on shareholder support, adding uncertainty.
• The risk exists that the transactions may not be consummated or the expected benefits may not materialize.

LONDON, UK, Jan. 20, 2023 /PRNewswire/ - Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO) announced that it will hold its Annual Meeting of Shareholders on February 24, 2023 (the "Annual Meeting").  At the Annual Meeting, Atlas common shareholders will be asked to, among other matters, consider and vote upon a proposal to adopt and approve the previously announced Agreement and Plan of Merger (the "Merger Agreement") among Atlas, Poseidon Acquisition Corp. and Poseidon Merger Sub, Inc., and the transactions contemplated by the Merger Agreement.  The completion of the transactions contemplated by the Merger Agreement remains subject to closing conditions described in Atlas's Proxy Statement filed with the U.S. Securities and Exchange Commission (the "SEC") on January 9, 2023, including receipt of common shareholder approval at the Annual Meeting.

The Annual Meeting will be held virtually at 2:00 p.m., London Time at www.virtualshareholdermeeting.com/ATCO2023, and all common shareholders of record as of the close of business on January 9, 2023 will be entitled to vote at the Annual Meeting.   A copy of the Proxy Statement is being mailed to all Atlas shareholders of record as of the close of business on January 9, 2023 and common shareholders may vote by mailing their proxy cards or by submitting their proxy online or by telephone. The Proxy Statement has been posted to the Company's website, atlascorporation.com, and can also be accessed on the SEC's website at www.sec.gov.

About Atlas

Atlas is a leading global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on disciplined capital deployment to create sustainable shareholder value. Atlas targets long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. For more information visit atlascorporation.com.

Cautionary Note Regarding Forward-Looking Statements

This statement and the materials referenced herein contains "forward-looking statements." All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. You are cautioned not to rely on these forward-looking statements, which speak only as the date of this announcement. The Company undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this announcement. These statements are based on current expectations of future events, are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict. These risks and uncertainties include the risks that the transactions contemplated by the Merger Agreement may not be consummated or the benefits contemplated therefrom may not be realized. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the Company's expectations and projections. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements found in the Company's filings with the SEC, which include, but are not limited to, those found in the Company's Annual Report on Form 20-F for the year ended December 31, 2021, filed with the SEC on March 24, 2022, the Company's Proxy Statement filed as an exhibit to Schedule 13e-3, filed with the SEC on January 9, 2023, and the Company's other filings with the SEC.

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SOURCE Atlas Corp.

FAQ

What is the purpose of the Atlas Corp. Annual Meeting on February 24, 2023?

The meeting is to vote on the proposed merger agreement with Poseidon Acquisition Corp.

What are the key details of the Merger Agreement related to ATCO?

The Merger Agreement involves Atlas Corp., Poseidon Acquisition Corp., and Poseidon Merger Sub, Inc., and aims to create synergies and improve operational efficiencies.

What happens if shareholders do not approve the merger at the Annual Meeting?

If shareholders do not approve the merger, the transactions contemplated by the agreement may not be consummated.

When can shareholders vote on the merger proposal for ATCO?

Shareholders can vote on the merger proposal during the Annual Meeting held on February 24, 2023.

Where can I find more information about the merger and the Annual Meeting?

More information can be found in the Proxy Statement filed with the SEC and on Atlas's corporate website.