Markel Corporation (MKL) agrees to buy Alterra Capital (ALTE) for a mixture of cash and stock...

|About: Markel Corporation (MKL)|By:, SA News Editor

Markel Corporation (MKL) agrees to buy Alterra Capital (ALTE) for a mixture of cash and stock currently valued at $3.13B. Each Alterra share will be converted into 0.04315 Markel shares plus $10 cash. Based on Markel's $486.05 closing price yesterday, that works out to $30.97/share for ALTE vs. yesterday's close of $23.15. (PR)