Markel Inks $3.13 Bln Buy of Alterra

Markel Corp. said Wednesday that it has agreed to buy Alterra Capital Holdings for about $3.13 billion. Each Alterra common share will be converted into the right to receive 0.04315 Markel common shares plus $10 million in cash. The deal is expected to close in the first half of 2013. Markel will end up owning 69% of the combined company wile Alterra will have about 31%. Alterra, a reinsurer, is backed by Stone Point Capital. Citigroup advised Markel while BofA Merrill Lynch provided financial advice to Alterra.

PEHUB Community

Join the 12493 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

Look Who’s Tweeting

Reuters VC and PE feed

RSS Feed Widget

Groups