MDU Resources Enters Into Cooperation Agreement With Corvex Management
BISMARCK, N.D., Jan. 24, 2023 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced that it has entered into a cooperation agreement with Corvex Management LP under which Corvex Partner James H. Gemmel will be appointed to MDU Resources' board of directors, subject to approval by the Federal Energy Regulatory Commission (FERC) under the Federal Power Act.
- BISMARCK, N.D., Jan. 24, 2023 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced that it has entered into a cooperation agreement with Corvex Management LP under which Corvex Partner James H. Gemmel will be appointed to MDU Resources' board of directors, subject to approval by the Federal Energy Regulatory Commission (FERC) under the Federal Power Act.
- "We appreciate the productive engagement we have had with MDU Resources' board and management team.
- Under the cooperation agreement, Mr. Gemmel will offer his resignation from the board under certain circumstances, including completion of the separation of both MDU Resources' Knife River business and MDU Resources' MDU Construction Services Group business.
- The cooperation agreement is included as an exhibit to a Current Report on Form 8-K filed by MDU Resources with the U.S. Securities and Exchange Commission.