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Sokol, Fairfax Raise Bid to Buy Seaspan Parent to $4.4 Billion

  • Cash bid for Atlas rises to $15.50, 14.6% premium to Friday
  • Sokol urges committee to approve amid economic uncertainty
Containers are loaded onto a Seaspan cargo ship at the Port of Valencia in Valencia, Spain.

Containers are loaded onto a Seaspan cargo ship at the Port of Valencia in Valencia, Spain.

Photographer: Angel Garcia/Bloomberg

A consortium led by former Berkshire Hathaway Inc. executive David Sokol and Canadian investment group Fairfax Financial Holdings Ltd raised its offer to buy Atlas Corp., the holding company that controls shipping firm Seaspan Corp., to $4.4 billion. 

The cash bid increased to $15.50 from $14.45 a share, a 14.6% premium to Friday’s closing price. The shares jumped as high as $15 in premarket trading in New York.