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Jana Partners urges Markel to spin off ventures unit and launch major buyback
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Jana Partners urges Markel to spin off ventures unit and launch major buyback
Activist investor Jana Partners is renewing pressure on insurance group Markel Group Inc to simplify its structure by divesting its ventures arm and returning capital to shareholders through a substantial share repurchase programme, according to a report by Bloomberg. In a letter to Markel’s board, Jana managing partner Scott Ostfeld and managing director Jimmy Ganas argued that the conglomerate’s current setup – combining specialty insurance wi…
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