Air-freight company Atlas Air Worldwide Holdings Inc. is being taken private for nearly $3 billion by an investor group led by private equity giant Apollo Global Management Inc..
The agreement announced on Thursday offers $102.50 for each share of Atlas Air, a premium of 35 percent to the company’s closing price on Friday before media reports on the deal.
Atlas Air offers air leasing services that can be used for shipping perishables, heavy construction equipment or passengers. The company’s customers include Boeing Co., FedEx Corp. and MotoGP, according to its website.
Prospects of airlines have improved this year thanks to pent-up demand for travel and the easing of COVID-19 curbs, but the industry’s recovery faces risks from surging fuel prices and staff shortages in a tight labor market….