Markel and Alterra Shareholders Approve Acquisition

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