PIC to persist with challenge to ‘fundamentally flawed’ Markel Catco buyout
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PIC to persist with challenge to ‘fundamentally flawed’ Markel Catco buyout

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Pension Insurance Corporation (PIC) will not accept Markel Catco’s sweetened buyout offer and plans to continue to oppose the proposal, the firm told this publication.

In a statement, a spokesperson said: “Markel’s attempts to cramdown investors are fundamentally flawed. Investors are being asked to release litigation claims without visibility on the value of those claims, or how this could possibly work in practice.”

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