---
schema_version: "secwatch.filing_event.v1"
accession: "0000067716-25-000012"
form_type: "8-K"
ticker: "MDU"
cik: "0000067716"
company_name: "MDU RESOURCES GROUP INC"
filed_at: "2025-02-14T23:59:59+00:00"
generated_at: "2026-05-26T21:45:32.154489+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MDU Resources unit to buy 49% stake in Badger Wind Farm for $294M

## Summary
- Montana-Dakota Utilities acquires 122.5 MW of 250 MW Badger Wind Farm for $294M cash.
- Transaction reduces existing PPA from 150 MW to 27.5 MW upon closing; requires NDPSC approval.
- Construction underway near Wishek, ND; closing deadline December 1, 2026.
- Nameplate generation mix projected: renewables 29% to 39%, coal 31% to 26%, gas 40% to 35%.
- Purchase agreement includes seller cost-overrun caps: buyer can walk if costs exceed $496.4M.

## SEC filing metadata
- accession: 0000067716-25-000012
- form_type: 8-K
- ticker: MDU
- cik: 0000067716
- company_name: MDU RESOURCES GROUP INC
- filed_at: 2025-02-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.03, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/67716/000006771625000012/0000067716-25-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/67716/000006771625000012/mdu-20250214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000067716-25-000012
- JSON: https://secwatch.observer/filing/0000067716-25-000012.json
- Plain text: https://secwatch.observer/filing/0000067716-25-000012.txt

## Key facts
- Governance Changes
  MDU RESOURCES GROUP INC: Amended and restated bylaws to revise director nomination and stockholder proposal procedures, including updates for universal proxy card rules, and make administrative changes (effective 2025-02-13).
  - Change: bylaw amendment
  - Effective: 2025-02-13
  source text: On February 13, 2025, the Company’s board of directors approved amended and restated bylaws of the Company (as so amended and restated, the “Bylaws”), effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/67716/000006771625000012/0000067716-25-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.