Knife River Corp said on Monday it had received a letter from activist investor Starboard Value LP concerning the firm’s position and future plans.
The board and management said they welcome shareholder input, will engage with Starboard to understand its views, and remain focused on creating value for shareholders.
The company reiterated the strategy it has pursued since becoming an independent public company in 2023, which centers on pricing optimization, operational performance, EDGE initiatives, margin expansion, disciplined capital allocation and profitable growth.
Knife River operates a vertically integrated platform that includes aggregates, ready‑mix concrete, asphalt, liquid asphalt and contracting services, serving publicly funded Department of Transportation projects as well as private industrial, commercial and residential construction.
The firm is a member of the S&P MidCap 400 index.
The release did not disclose the size of Starboard’s stake or the specific contents of the activist letter.
