ATCO

Anyone following the latest shenanigans at Atlas Corporation (ATCO), where David Sokol is Chairman of the Board?

This article on Seeking Alpha provides a decent summary: https://seekingalpha.com/article/4530082-atlas-management-pr…

In short, a consortium of investors that includes Sokol has offered to take ATCO private at $14.45 per share. The price is 20 or 30% higher than where ATCO has traded lately but about 15% less than the high last year. Management comments in the past seem to imply a value much higher than $14.45. In the most recent conference call, management refused to discuss the offer even though the company’s chairman is part of the group making the offer.

The whole thing doesn’t smell good, in my opinion. I thought Buffett was too harsh in firing Sokol, but now it looks like he made the right move.

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I recently bought a bunch at ~$11, I expected to be a long term partner but I’m not too pissed about a quick 25%+ return. I’ll still participate via my (big) FFH position.