Kansas City Southern has rejected a roughly $20 billion takeover offer from a group of investors, arguing that the bid undervalues the railroad operator, according to people familiar with the matter, reports Fox Business.
Global Infrastructure Partners and the infrastructure arm of private-equity giant Blackstone Group Inc. had offered Kansas City Southern $208 a share, some of the people said. Kansas City rejected that offer after earlier brushing back a bid that was below $200 a share, the people said. The two sides aren’t in discussions.
Kansas City Southern is the smallest of the five major freight railroads in the U.S. The company plays a key role in U.S.-Mexico trade, with a network across both countries.
