Atlas Corporation shareholders approve $10.9bn merger with Poseidon

Atlas Corporation, an American asset management company, said that its shareholders have approved the previously announced $10.9 billion merger with Poseidon Acquisition Corp.

According to Atlas Corporation, the merger is expected to close in the first half of this year. Based on the present status of regulatory approvals, consents and other customary closing conditions, the merger deal may be wrapped up as early as the end of March, said the asset management company.

As per the deal announced in late 2022, shareholders of the New York Stock Exchange (NYSE) listed Atlas Corporation will be paid $15.5 in cash per share by Poseidon Acquisition Corp.

The deal with Poseidon Acquisition Corp. will take Atlas Corporation private.