Comment / On the wires: $11bn Atlas Corp's Seaspan – how we got it wrong

Photo 89603648 © Tamara Midonova | Dreamstime.com

A quick take on the world’s largest non-operating shipowner Seaspan and parent Atlas Corporation, which earlier this week delivered Q3 22 results that were virtually irrelevant.

That’s because they came on the back of the announcement that the diversified energy/shipping group had agreed to be taken over by the Poseidon consortium, which largely comprises of Atlas’ existing major shareholders along with Japanese container line ONE.

We’ll get to the near-$11bn deal value shortly, but first consider that quarterly numbers were pretty straightforward stuff – a ...