Markel & Alterra Shareholders Approve Merger
Markel Corporation and Alterra Capital Holdings Limited confirmed that their respective shareholders have voted in favor of all proposals necessary for the acquisition of Alterra by Markel.
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.
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.
