Markel Corp. (NYSE: MKL) will acquire Alterra Capital Holdings Ltd. (Nasdaq: ALTE, BSX: ALTE.BH) for about $3.13 billion as part of a merger agreement.

The purchase price works out to $31 per share. After the merger, Markel shareholders will own about 69 percent of the combined company and Alterra’s shareholders will have about 31 percent. Alterra's shares closed at $23.15 on Dec. 18 and opened at $29.55 after the deal was announced. 

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