Knife River rises on report Starboard urges co to explore sale

Knife River

23/09/2026 23:34

** Shares of construction materials and contracting service provider Knife River Corp KNF.N rise 1.5% to $52.20 in extended trading
** Activist investor Starboard has taken a significant stake in Knife River, with plans to push the company to improve its margins or explore a sale, Wall Street Journal reports, citing people familiar with the matter
** Starboard wants the company to evaluate strategic alternatives including a potential sale, as it believes its business has a high barrier to entry and could be attractive to potential suitors, as per WSJ 
** Starboard also wants Knife River to commit to narrowing the gap between its EBITDA margins and those of its peers in the next few years, WSJ reports
** Knife River and Starboard did not immediately respond to Reuters' requests for comment. Reuters could not independently verify the report.
** As of last close, KNF down 26.9% YTD

(Dharna Bafna in Bengaluru)
((dharna.bafna@thomsonreuters.com))