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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!

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