Markel Group (MKL) faces pressure from Jana Partners to consider divesting or separating the private investments business, Bloomberg reported Tuesday, citing Scott Ostfeld, managing partner at Jana Partners.
Jana has acquired an undisclosed stake in Markel, which is "significantly undervalued" and could improve by enhancing its core insurance operations, Ostfeld said, according to Bloomberg.
Jana views Markel as an "attractive" acquisition target for larger insurers, the report said.
A representative for Markel didn't immediately respond to Bloomberg's comment request.
Markel and Jana didn't immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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