U.S. utility MDU Resources backs its strategy after Meister's Corvex takes stake [Financial Post (Toronto, Ontario, Canada)]
MDU Resources Group, Inc. (Holding Company) (MDU)
Last mdu resources group, inc. (holding company) earnings: 7/30 04:25 pm
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US:NYSE Investor Relations:
investor.mdu.com/investor-relations
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Source: Financial Post
Advertisement 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 higher. In the Monday filing, Corvex called the plan to spin off Knife River a “positive first step.” But Corvex also said it plans to engage with the company about additional strategic alternatives at MDU to enhance the earnings potential of the power company. In a statement to Reuters, an MDU spokesperson
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- Has Knife River Corporation (KNF) Outpaced Other Construction Stocks This Year? [Yahoo! Finance]Yahoo! Finance
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