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Company News

Blackstone, GIP make takeover bid for Kansas City Southern - WSJ

Sept 2 (Reuters) - A clutch of investors led by Blackstone Group Inc has made a takeover bid for U.S. railroad operator Kansas City Southern, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Blackstone Group and Global Infrastructure Partners (GIP) submitted a fresh takeover bid after an earlier attempt was rebuffed by the company, the people said, according to the report. (on.wsj.com/2QPlsss)

WSJ had reported in July that the buyout investor group was considering a takeover bid for Kansas City Southern in a deal valued at about $20 billion.

Kansas City Southern, which has a market capital over $17 billion, was not immediately available for comment.

Reporting by Shradha Singh in Bengaluru; Editing by Vinay Dwivedi

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