Shareholders Are Not Happy With Markel's Wealth Transfer To Alterra

Shares of Markel (MKL) fell over 10% in Wednesday's trading session, followed by another 0.5% loss on Thursday. The financial holding company announced its intention to acquire Alterra Capital Holdings (ALTE). Shares of Alterra rose 21.7% on Wednesday in a response to the offer, but slipped 0.5% in Thursday's trading session.

The Deal

Markel announced that the respective boards of both companies have unanimously approved a definitive merger agreement in which Markel will be the acquiring party.

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