Knife River

Last week, Bismarck, North Dakota-based MDU said it would separate its construction materials unit - Knife River Corporation - into a separate public company, with shares in the new entity to be distributed to MDU shareholders.

In the Monday filing, Corvex called the plan to spin off Knife River a “positive first step.”

The separation of Knife River is part of a broader trend of U.S. power companies to focus on their regulated businesses that investors see as steady revenues streams, as opposed to unregulated operations that rely heavily on market conditions.

A lawsuit alleged construction contractor Knife River Corp. and its subcontractor for traffic control, Roadworx, were negligent in how they set up barrels or traffic cones to guide traffic through the intersection, the Casper Star-Tribune reported.

Jurors in the case determined Apr. 20 the driver was 10% at fault for the crash, while Knife River and Roadworx bore 60% and 30% responsibility each.