MDU Resources Board Of Directors Approves Everus Spinoff, Declares Distribution Of Shares Of Everus
Portfolio Pulse from Benzinga Newsdesk
MDU Resources Group, Inc. has announced the approval of the spinoff of its construction services subsidiary, Everus Construction Group. The spinoff will be executed through a pro rata distribution of Everus shares to MDU stockholders, scheduled for October 31, 2024, pending regulatory approval.
October 02, 2024 | 12:33 pm
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MDU Resources has approved the spinoff of Everus Construction Group, distributing shares to its stockholders. This move could impact MDU's stock as it restructures its business.
The spinoff of Everus is a significant corporate restructuring for MDU Resources, likely to impact its stock positively as it focuses on its core operations. The distribution of shares to stockholders can be seen as a value-unlocking move.
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