Markel Corp. and Bermuda-based Alterra Capital Holdings Limited shareholders have voted in favor of all proposals necessary for the acquisition of Alterra by Markel, as announced in December 2012.
Under the terms of the merger agreement, each Alterra common share (other than any shares as to which appraisal rights are exercised or restricted shares that do not vest in connection with the transaction) is converted into the right to receive 0.04315 Markel common shares (with cash paid for fractional shares), plus a cash payment of $10, the companies said.
Completion of the transaction remains subject to receipt of regulatory approvals and other customary closing conditions and is expected to occur in the second quarter of 2013.
Sources: Markel Corp., Alterra Capital Holdings
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
The Fidelis Partnership Launches US SME Casualty Reinsurance MGA 
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
Ford’s AI Hiccups Lead Carmaker to Rehire ‘Gray Beard’ Engineers 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
