Worth Watching News for Traders: Markel Corporation (NYSE:MKL)

On Friday Markel Corporation (NYSE:MKL)  stock fell -0.77% and closed at 1165.42. The stock opened the session at $1174.37 and touched its highest price point at $1179.07. Its recent trading capacity is 20973 shares versus to its average trading volume of 34470 shares. The company’s stock’s lowest price point for the session stood at $1160.21.MKL traded as low as $ 950.16 in the past 52 weeks, and shares hit its peak level to $1216.47.

On Nov. 8, 2019, Markel Corporation (NYSE:MKL) and VSC Fire & Security notified that they have entered into a definitive agreement for Markel to acquire VSC. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2019. Additional terms were not disclosed.

VSC is a provider of comprehensive fire protection, life safety, and low voltage solutions to retailers, commercial campuses, healthcare facilities, and government properties throughout the southeast United States. Established in 1958 in Ashland, Virginia, as Virginia Sprinkler Company, VSC was initially managed from the family home of co-founder Roland C. Giles. Since then, VSC has grown to employ over 1,200 people across 21 offices in 9 states and the District of Columbia.

At VSC our customers rely on our work to save property and lives. The integrity of our people and our work cannot be compromised, and we’ve invested in that since day one, said Michael Meehan, CEO, VSC. When thinking about the next 60 years at VSC, we knew we needed a partner that shared our values and would allow us to continue running VSC the way we have for so long. We are confident Markel is that partner.

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