Knife River Corporation issued a statement on September 24, 2026, responding to a letter it received that day from Starboard Value LP and certain of its affiliates. The company said it first learned of Starboard's investment on September 22, 2026, and will engage with the activist investor to better understand its views. Knife River said its board and management regularly review all opportunities to create value for shareholders and will continue to act in the best interests of the company and its shareholders. Since becoming an independent public company in 2023, Knife River said it has executed a clear strategy supported by its EDGE initiatives, focused on optimizing pricing, improving operational performance and capturing efficiencies to enhance margins and drive profitable growth. The company said its vertically integrated platform, combining aggregates, ready-mix concrete, asphalt, liquid asphalt and contracting services, is central to how it creates durable, long-term value, and that it remains focused on margin expansion, operational excellence, disciplined capital allocation and profitable growth.
Knife River CorporationKnife River responds to Starboard Value's activist letter, reaffirming its existing strategy with no new operational or financial development.
OK Rusal MKPAOStarboard Value sent a letter to Knife River; the article does not disclose the letter's contents or demands.
