As a reminder Seaspan has reorganized and is now Atlas Corp (ATCO) effective 2/27/2020.
We have updated individual security pages and are in the process of updated spreadsheets.
Note that the 7.125% baby bonds (SSWA) are being delisted, but the company has announced plans to call the issue on 10/10/2020. The last day of trading is 3/9/2020.
News out this afternoon that may affect the ATCO (ex-Seaspan) preferred shares:
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CHAIRMAN OF ATLAS CORP., FAIRFAX FINANCIAL HOLDINGS LIMITED AND THE WASHINGTON FAMILY PARTNER WITH OCEAN NETWORK EXPRESS PTE. LTD. TO JOINTLY PROPOSE ACQUIRING ALL COMMON SHARES OF ATLAS CORP. NOT CONTROLLED BY ITS MAJORITY SHAREHOLDERS FOR $14.45 PER SHARE IN CASH
https://www.prnewswire.com/news-releases/chairman-of-atlas-corp-fairfax-financial-holdings-limited-and-the-washington-family-partner-with-ocean-network-express-pte-ltd-to-jointly-propose-acquiring-all-common-shares-of-atlas-corp-not-controlled-by-its-majority-shareh-301600432.html
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Do you believe them when they say “It is contemplated that all Atlas preferred shares would remain outstanding following the proposed transaction.”?
Another delisting risk rears its ugly head …
Thanks for the heads up ESW3