M&A - MDU RESOURCES GROUP INC

Form Type: 8-K

Filing Date: 2025-02-14

Corporate Action: Acquisition

Type: New

Accession Number: 000006771625000012

Filing Summary: On February 13, 2025, Montana-Dakota Utilities Co., a wholly-owned subsidiary of MDU Resources Group, Inc., entered into a Purchase and Sale Agreement with Badger Wind, LLC to acquire a 49% ownership interest in a wind project in North Dakota for $294 million. This project is expected to generate approximately 250 megawatts of power, with the Buyer owning 122.5 megawatts after the transaction. The deal will reduce the Buyer’s obligations under an existing power purchase agreement. The Agreement includes customary representations, warranties, and indemnification clauses, and is subject to standard closing conditions including regulatory approvals. The closing is anticipated to occur after all conditions are satisfied or waived. Also, on February 13, 2025, MDU’s board approved new bylaws aimed at modernizing governance practices, particularly regarding director nominations. The transaction was publicly announced the following day.

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