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Atlas Corp. said Tuesday it has agreed to be acquired by Poseidon Acquisition Corp. in a $10.9 billion take-private deal about three months after the energy-generation- and container-ship-asset owner was initially approached with an unsolicited buyout offer.
Asset manager Atlas Corp. ATCO, -0.07% said Tuesday it has agreed to be acquired by Poseidon Acquisition Corp. in a deal with an enterprise value of about $10.9 billion. Poseidon was formed by affiliates of Fairfax Financial Holdings Limited, certain affiliates of the Washington Family, David Sokol, chairman of Atlas, and Ocean Network Express Pte.
ATCO vs. BLK: Which Stock Is the Better Value Option?
Atlas (ATCO) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
LONDON, UK , Oct. 12, 2022 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO) plans to release its financial results for the quarter ended September 30, 2022, after the market closes on Tuesday, November 1, 2022. Atlas plans to host a conference call for all shareholders and interested parties at 8:30 a.m.
Here is how Atlas (ATCO) and Bogota Financial Corporation (BSBK) have performed compared to their sector so far this year.
Atlas (ATCO) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Shares of Atlas Corp. ATCO, -3.77% jumped nearly 8% in premarket trades on Monday after a buyout group including Atlas Corp. chairman David L. Sokol increased its take-private offer for the container ship and mobile power company to $15.50 a share, up from its Aug. 4 offer of $14.45 a share.
David Sokol and Fairfax Financial want to swipe ATCO. Shareholders are holding out for more.
Regular readers will know that I have covered the infrastructure conglomerate Atlas Corp. ( ATCO , Financial) several times in the past. What has always interested me about this company is the fact it is managed and has been funded by some incredibly astute and successful capital allocators.