- Joe Breitfeller
Atlas Air Worldwide Shareholders Approve Acquisition by Investor Group Led by Apollo
Atlas Air Worldwide shareholders have approved the proposed acquisition of the company by an investor group led by Apollo, together with J.F. Lehman & Company and Hill City Capital.
On Tuesday (November 29, 2022), Atlas Air Worldwide announced that the company’s shareholders have approved the proposed acquisition by an investor group led by Apollo, together with J.F. Lehman and Hill City Capital. Previously, the transaction was unanimously approved by the company’s Board of Directors, and now, approximately 99.3 percent of shareholder votes were in favor of adopting the merger agreement, representing around 80.9 percent of outstanding common shares. The final results will be published in a Form 8-K filed by Atlas with the U.S. Securities and Exchange Commission (SEC).
In Tuesday’s announcement, Atlas Air Worldwide’s President and Chief Executive Officer, John Dietrich, said,
“We are pleased to receive overwhelming support from Atlas Air Worldwide shareholders, who recognize this transaction provides compelling value to them while giving us the opportunity to execute our strategic plan. This is another step forward to completing the transaction as we advance our leadership in airfreight and deliver high-quality services to our customers around the world.”
Purchase, New York-based Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW) is a leading global provider of third-party aircraft and aviation operating services. Company subsidiaries include Atlas Air, Southern Air Holdings and Titan Aviation Holdings. Additionally, the company owns a majority stake in Polar Air Cargo Worldwide. Together, the Atlas Air family of companies operate the world’s largest Boeing 747 Freighter fleet. The company also offers their customers a wide selection of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.
Source: Atlas Air Worldwide