MKL
Markel CorporationNYSE
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  • Dec. 23, 2012, 8:48 AM

    Markel's (MKL) 11% dive following the Alterra (ALTE) acquisition announcement allows investors to buy into the brilliantly performing insurer at book value, writes The Brooklyn Investor. A key: Much of Alterra's investment portfolio is in cash and fixed income - reallocating that into equities under the stewardship of Markel CIO Tom Gayner (17% CAGR of BV/share since 1990) should make for a good deal of upside. (Acquisition presentation)

    | Dec. 23, 2012, 8:48 AM | 2 Comments
  • Dec. 19, 2012, 8:46 AM

    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)

    | Dec. 19, 2012, 8:46 AM