U.S. utility MDU Resources backs its strategy after Meister's Corvex takes stake [Reuters]
MDU Resources Group, Inc. (Holding Company) (MDU)
Last mdu resources group, inc. (holding company) earnings: 7/30 04:25 pm
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Source: Reuters
U.S. utility MDU Resources backs its strategy after Meister's Corvex takes stake By David French , Svea Herbst-Bayliss 3 Min Read (Reuters) - MDU Resources Group Inc is confident in its current strategy, the company said on Tuesday, after activist investor Corvex Management unveiled a nearly 5% stake in the U.S. utility. Corvex, which is controlled by Keith Meister, said in a regulatory filing late on Monday it bought shares in MDU as it believes the stock is undervalued. Corvex also wants to discuss strategic options with the board and management, and other measures to improve the company’s valuation. Last week, Bismarck, North Dakota-based MDU said it would separate its construction materials unit - Knife River Corporation - into a separate public company, with shares in the new entity to be distributed to MDU shareholders. The company’s stock price has dropped 10% in the last 52 weeks but investors reacted positively to news of the planned separation and pushed the share price hig
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MDU
Sec Filings
- 4/1/24 - Form 4
- 3/29/24 - Form ARS
- 3/29/24 - Form DEFA14A
- MDU's page on the SEC website