Markel to acquire Alterra!
December 19th, 2012
Markel Corp. (NYSE: MKL) announced today that it acquires Alterra Capital Holdings Limited (Nasdaq: ALTE) for $31 per share in stock and cash.
Alterra is a speciality and reinsurance company based in Hamilton Bermuda.
Markel is able to acquire this company which they consider highly complementary to Markel only at a very slight premium to its book value!
This certainly means a big step forward for Markel: with its market cap of $4.68 bil it is able to aquire a rival company with a market cap of $2.22 bil!
They will held a Conference Call later in the day!
Categories: Stocks / Aktien