Atlas Shareholders Approve Merger With Poseidon Acquisition Corp.; Terms Not Disclosed

Atlas Corp. ("Atlas" or the "Company") (NYSE:ATCO) today announced that, at its annual meeting of shareholders held today, February 24, 2023 (the "Annual Meeting"), its shareholders approved by the required votes the proposal to adopt and approve the Agreement and Plan of Merger (the "Merger Agreement") by and among Atlas, Poseidon Acquisition Corp. ("Poseidon") and Poseidon Merger Sub, Inc. and the transactions contemplated by the Merger Agreement, including the merger with Poseidon (the "Merger Proposal"). 

In accordance with  the requirements of the Merger Agreement, the Merger Proposal was adopted and approved at the Annual Meeting by the affirmative vote of both (1) the holders of a majority of the issued and outstanding Atlas common shares and (2) the holders of a majority of the issued and outstanding Atlas common shares beneficially owned by the Unaffiliated Shareholders (as defined in the Merger Agreement). The Company continues to expect that the merger will be completed in the first half of 2023, and based upon the current status of regulatory approvals, consents and other customary closing conditions the merger could close as early as March 31, 2023, subject to based upon the current status of all required conditions. In the merger, holders of the Company's common shares will receive $15.50 in cash in exchange for each common share they own.

Additionally, at the Annual Meeting, the Company's common shareholders voted to re-elect all eight of the Company's current directors and ratify the appointment of KPMG LLP as the Company's independent auditors.