Starboard delivers letter to Knife River
KNF•Starboard delivered a letter to Knife River, saying the company should evaluate strategic alternatives and that its board should require management to pursue an adjusted EBITDA margin of at least 22% by fiscal 2029.
1. Starboard’s proposals
Starboard said it is a significant shareholder of Knife River. In its letter, it urged the company to evaluate strategic alternatives, citing the scarcity and strategic value of its assets, and said the board should require management to develop and execute a plan to achieve at least a 22% adjusted EBITDA margin by fiscal 2029.
