UPDATE 1-Validus says to take IPC fight to shareholders

* Validus hires Georgeson as proxy solicitor

* Says "extremely disappointed" IPC rejected bid

NEW YORK, April 8 (Reuters) - Validus Holdings Ltd (VR.N) said on Wednesday it would reach out directly to IPC Holdings Ltd (IPCR.O) shareholders after IPC's board rejected its takeover bid in favor of a deal with rival Max Capital Group Ltd (MXGL.O).

Validus, which provides reinsurance and insurance, said it had hired Georgeson as its proxy solicitor and would ask IPC shareholders to vote against the Max Capital deal.

"We are extremely disappointed that IPC's board of directors has rejected our proposal in favor of an obviously inferior alternative," Validus Chief Executive Ed Noonan said in a statement. "While we would have preferred to work cooperatively with IPC, we remain fully committed to our proposal and expect to use all available means to complete our transaction."

Validus made an unsolicited $1.68 billion stock offer for IPC on March 31. But IPC already had a deal with Max Capital, and on Tuesday it recommended its shareholders back that agreement.

The battle for IPC, formed more than 15 years ago with backing from American International Group Inc (AIG.N), ends a nearly 12-year hiatus in deals among Bermuda-based insurers.

Validus was formed in 2005 after claims from Hurricane Katrina created a surge in demand for property-catastrophe coverage. It expanded into other lines of business through its 2007 acquisition of Talbot Holdings, an underwriter in the Lloyd's of London [LOL.UL] insurance market.

IPC was formed by Maurice "Hank" Greenberg, who solicited multiple investors to create the company. AIG was IPC's largest shareholder until 2006, when AIG sold its stake. (Reporting by Paritosh Bansal; editing by Gunna Dickson) (For more M&A news and our DealZone blog, go to www.reuters.com/deals)