secwatch.observer — SEC 8-K summary
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Issuer:     Knife River Corp (KNF)
CIK:        0001955520
Form:       8-K
Filed at:   2024-12-26T23:59:59+00:00
Accession:  0001955520-24-000054
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Knife River subsidiary to acquire Strata Corp, Glacier Resources, and Landmark assets for $454M cash
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- KRC Holdings, a Knife River subsidiary, to buy 100% of Strata and Glacier equity and certain Landmark assets for $454M in cash, subject to purchase price adjustments.
- Financing from cash on hand and new long-term debt; deal subject to HSR Act clearance and other customary closing conditions.
- Termination fee of $15M payable by Buyer if deal fails due to regulatory injunction or outside date expiry; sellers may terminate under certain conditions.
- Sellers include equity holders of Strata and Glacier and owners of Landmark; parties made customary representations, warranties, and indemnification commitments.
- Acquisition expected to close after satisfaction of conditions; pre-closing restructuring required for Glacier Resources ownership.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1955520/000195552024000054/0001955520-24-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1955520/000195552024000054/knf-20241220.htm
  HTML page:      https://secwatch.observer/filing/0001955520-24-000054

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