Support of the proposed acquisition of the Missouri-Kansas-Texas Railroad Co. by rail and energy giant Union Pacific Corp., was approved Wednesday by the Oklahoma-Kansas-Texas Rail Users Association.
Included in the purchase would be the Oklahoma, Kansas & Texas Railroad Co., a wholly-owned subsidiary of Dallas-based Missouri-Kansas-Texas.
The agreement between Katy Industries - which owns 98 percent of Missouri-Kansas-Texas Railroad - and Union Pacific is an estimated $108 million transaction. It is scheduled to be filed with the Interstate Commerce Commission on Nov. 14, for approval.
New York-based Union Pacific would buy all Missouri-Kansas-Texas stock. …