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Starboard Delivers Letter to Knife River

  • Starboard Value LP delivered a letter to Knife River CEO Brian Gray & the Board highlighting Knife River's failure to deliver promised margin improvements.
  • Knife River is falling further behind peers while lacking progress on margin targets.
  • Starboard outlines a clear path for Knife River to achieve 22% adjusted EBITDA margins by FY2029 through improved aggregates pricing & meaningful cost reductions.
  • Starboard believes Knife River should evaluate strategic alternatives due to the scarcity & strategic value of its assets.
  • Starboard Value LP is an investment adviser focused on unlocking value in undervalued companies through active engagement.