Faruqi & Faruqi, LLP Is Seeking More Cash For The Shareholders Of Alterra Capital Holdings Limited (ALTE)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Alterra Capital Holdings Limited (“Alterra” or the “Company”) (NASDAQ: ALTE) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Markel Corp. (“Markel”) (NYSE: MKL) in a cash-and-stock deal valued at approximately $3.13 billion. Under the terms of the proposed transaction, Alterra’s stockholders will receive 0.043 Markel share and $10 in cash for each share of Alterra common stock they own. Based on Markel’s closing price of $459.30 as of January 16, 2013, the deal values Alterra at about $29.75 a share, while according to Yahoo! Finance, at least one financial analyst has set a price target of $31 for Alterra.
The investigation focuses on whether Alterra’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Alterra’s shareholders.
If you own common stock in Alterra and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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New York, NY 10017
Tel: (212) 983-9330
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