A group of buyout investors has made a takeover offer for railroad operator Kansas City Southern , which has a market value of more than $18 billion, according to people familiar with the matter. It is unclear whether Kansas City Southern will be receptive this time and details of the offer couldn’t be learned. Kansas City Southern shares closed up more than 5% Wednesday after The Wall Street Journal reported the bid, to $193.78. Since then, Kansas City Southern’s stock price has jumped on hopes of a deal. Kansas City Southern is working with Morgan Stanley to consider the bid, some of the people said.

Source: Wall Street Journal September 02, 2020 19:04 UTC