MDU Construction Services Group Rebrands To Everus Construction Group; Spinoff Remains On Track For Late 2024
Portfolio Pulse from Benzinga Newsdesk
MDU Resources announced plans to spin off its construction services business, leading to two independent, publicly traded companies. The construction services group will rebrand to Everus Construction Group, with the spinoff expected to complete by late 2024.
March 13, 2024 | 8:21 pm
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MDU Resources plans to spin off its construction services business into a new entity, Everus Construction Group, aiming for two independent companies by late 2024.
The spinoff of MDU Resources' construction services into Everus Construction Group is a significant corporate restructuring that could unlock value for shareholders by allowing each entity to focus on its core business. This strategic move is likely to be viewed positively by the market, as it could lead to improved operational efficiencies and financial performance for both entities. The announcement of such a spinoff typically leads to positive investor sentiment in the short term, as it indicates proactive management actions aimed at value creation.
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