Aerial Storage containers before transport dock , Top view , Thailand .
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Latham & Watkins Advised Ocean Network Express in the Completion of Atlas’ Going Private Transaction

March 28, 2023
Members of the firm’s M&A Practice represented the Singapore-based global container shipping company in consortium deal.

Seaspan Corporation (Seaspan), a wholly owned subsidiary of Atlas Corp. (Atlas or the Company) (NYSE: ATCO), has announced that the Company and Poseidon Acquisition Corp. (Poseidon) an entity formed by certain affiliates of Fairfax Financial Holdings Limited (Fairfax), certain affiliates of the Washington Family (Washington), David Sokol, Chairman of the Board of Atlas, and Ocean Network Express Pte. Ltd., and certain of their respective affiliates, completed the previously announced transaction pursuant to which Poseidon acquired all outstanding common shares of Atlas not already owned by Fairfax, Washington and Mr. Sokol. Pursuant to the terms of the Agreement and Plan of Merger, dated October 31, 2022, by and among the Company, Poseidon and Poseidon Merger Sub, Inc. (Merger Sub), Merger Sub merged with and into the Company (the Merger), with the Company continuing as the surviving company in the Merger.

Latham & Watkins LLP represented Ocean Network Express Pte. Ltd. in the transaction with a corporate deal team led by New York partner David Kurzweil, with associate Julian Azran. New York partners James Gorton, Christopher Cross, and Robert Katz, with associate Sally Wu, also advised on M&A matters.