Markel Group urged to divest Ventures arm and buy back stock

9 articles · Updated · MarketWatch · Apr 30

In a Thursday letter to Markel's board, activist hedge fund Jana Partners demanded a $2 billion tender offer and sale of Markel Ventures.
Jana said Markel's mix of insurance operations and investments has produced sub-par shareholder returns and a persistent market discount versus insurance peers.
The fund argued open-market buybacks are constrained by low liquidity and do not fix the structural discount; Markel did not immediately respond to requests for comment.

Is Markel’s ‘mini-Berkshire’ model truly broken, or is an activist forcing a shortsighted breakup?

How will a new 10-day tender offer rule fuel more activist campaigns against complex companies?