Knife River Shareholder Starboard Value Calls for Evaluation of Strategic Options

07:43 AM EDT, 09/24/2026 (MT Newswires) -- Knife River (KNF) shareholder Starboard Value has called on the company's board to evaluate strategic alternatives to maximize shareholder value, according to a Thursday statement. In a letter sent to Knife River CEO Brian Gray, Starboard Value noted the company's underperformance against its peers and "lackluster" shareholder returns. The shareholder also urged Knife River's board to develop a plan to achieve at least a 22% adjusted earnings before interest, taxes, depreciation, and amortization margin by 2029. The firm also said Knife River's board should establish specific cost-reduction targets and monitor progress against defined timelines. Knife River did not immediately respond to MT Newswires' request for a comment.