Markel Vice Chairman
The companies value the transaction at about
Alterra's stock hit a new 52-week high of
Shares of Markel fell
Markel stockholders will own approximately 69 percent of the combined company, with Alterra shareholders owning the remaining 31 percent.
Once the transaction is complete, Alterra's board will chose two individuals to be added to
The buyout, which still needs shareholder approval, is expected to close during the first half of next year.
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