Knife River to Engage With Starboard, Reaffirms Focus on Enhancing Shareholder Value
Knife River (KNF) said Thursday it intends to engage with shareholder Starboard Value while reaffirming focus on margin expansion, operational excellence, disciplined capital allocation and profitable growth to enhance shareholder value.The company said it first learned of Starboard's investment on Sept. 22, and that its board is open to constructive dialog and regularly reviews opportunities to create value for shareholders.Knife River said its strategy, supported by its EDGE initiatives, is focused on pricing, operational performance and efficiencies to improve margins and drive growth.Starboard called on the board earlier Thursday to evaluate strategic alternatives to maximize shareholder value.Shares of the company were up 3.9% in Thursday trading.Price: $53.44, Change: $+2.01, Percent Change: +3.90%
