Atlas Corp, the parent of container leasing giant Seaspan, looks set to go private after existing shareholders tabled a bid to acquire all outstanding shares in the company.

The acquisition is being carried out by Poseidon Acquisition Corp, an entity formed by certain affiliates of Fairfax Financial Holdings, the Washington Family and Atlas chairman David Sokol.

Ocean Network Express (ONE), the Singapore-based containership operation of Japan’s Mitsui OSK Lines, NYK Lines and K Line, is also participating in the bid.