Knife River to buy Strata and Glacier Resources for $454.0 million in cash
On December 20, 2024, KRC Holdings, an indirect subsidiary of Knife River Corporation, agreed to acquire 100% of the equity of Strata Corporation and Glacier Resources, Ltd., plus certain assets of Landmark Investments, L.L.C., for $454.0 million in cash, subject to customary purchase price adjustments. The deal is subject to customary closing conditions, including U.S. antitrust clearance under the Hart-Scott-Rodino Act, and Knife River expects to fund it with cash on hand and proceeds from new long-term debt. The filing also describes a $15.0 million termination fee payable by the buyer in certain circumstances, so the deal may not close.
Key points
- Purchase price is $454.0 million in cash, subject to customary purchase price adjustments.
- Buyer expects to fund the acquisition with cash on hand and proceeds from issuing long-term debt.
- Either party may terminate if the deal is not completed by the Outside Date, nine months after HSR filings, extendable by three months and later by mutual agreement.
- Buyer pays a $15.0 million termination fee if a court or government order permanently blocks the transaction and the order becomes final.
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 23, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.