Rail Firm Agrees to Buy Southern Pacific From: The Washington Post | Date: December 29, 1987| Author: Martha M. Hamilton | Copyright 1987 The Washington Post. This material is published under license from the Washington Post.  All inquiries regarding rights should be directed to the Washington Post.Copyright information

Santa Fe Southern Pacific Corp. said yesterday that it has agreed to sell the Southern Pacific Transportation Co. to Rio Grand Industries Inc. for about $1.8 billion in a deal that would give the Denver & Rio Grande Western Railroad access to the West Coast and that would end a troublesome chapter in the history of the Santa Fe Railway.

First, however, the transaction must be approved by the Interstate Commerce Commission, which turned down the merger of the Santa Fe and Southern P...

Related newspaper, magazine, and journal articles from HighBeam Research

	Santa Fe receives 7 offers up to `well over $1 billion' Chicago Sun-Times ; Santa Fe Southern Pacific Corp. said Friday that it has received seven offers ranging "from $750 million to well over $1 billion" for Southern Pacific Transportation Co. and will now begin talks to select a buyer. The announcement comes a day after the Railway Labor Executives Association disclosed
	Henley Group In Buyout Talks With Santa Fe The Washington Post ; The Henley Group Inc., a diversified holding company, said yesterday that it is negotiating to acquire Santa Fe Southern Pacific Corp. for about $9.5 billion in cash and securities. Henley began increasing its investment in Santa Fe, which previously had begun a restructuring in hope of avoiding a
	Olympia & York intends to nearly double its stake in Santa Fe Chicago Sun-Times ; The second-largest shareholder of Santa Fe Southern Pacific Corp. is bidding to become the largest under a tender offer announced Tuesday. The move is being seen as a way to thwart a proxy battled threatened by Santa Fe's largest shareholder. Olympia & York Development Ltd., the Toronto-based real
	ICC derails train merger // Santa Fe, Southern stunned by decision Chicago Sun-Times ; ... Santa Fe Southern Pacific Chairman John J. Schmidt said at a news conference in Washington, D.C., "We are going to have to sell ... reports. Santa Fe Southern's stock took a drubbing after the news. Shares fell $2.50 to $28 as the most-active stock, trading 3 ...
	ICC OKs Southern Pacific sale Chicago Sun-Times ; ... and ordered SFSP to sell one of the two railroads. For the last five years, the Southern Pacific has been held in a trust. At a news conference in Washington, D.C., Philip Anschutz, chairman of Rio Grande Industries, said that senior officers of the Southern ...
	Santa Fe So. Pacific to change name after rail sale Chicago Sun-Times ; Santa Fe Southern Pacific Corp. closed the sale of Southern Pacific Transportation Co. Thursday in a deal that netted SFSP $1.02 billion and will force the company to change its name. The cash from the deal was immediately turned over to lenders who bankrolled Santa Fe's $4.7 billion financial
	ICC Urged Not to Review Denial of Santa Fe Merger The Washington Post ; Prolonging deliberations on whether to allow the Santa Fe Railway and the Southern Pacific Transportation Co. to merge could be hazardous to the health of the Southern Pacific, opponents of the merger argued yesterday. "Keeping this proceeding open risks harming Southern Pacific's viability as a
	Southern Pacific Employe Group Bids for Railway The Washington Post ; A coalition of railway unions and the management of Southern Pacific Transportation Corp. yesterday made parallel bids to acquire the railroad's stock for $750 million. The offers by the railway unions and Southern Pacific's management were made separately but with the understanding that management
	Santa Fe Brings Its Southern Pacific Plea Before ICC The Washington Post ; The Santa Fe Southern Pacific Corp. will try to persuade the Interstate Commerce Commission today to take another look at a merger it rejected in 1986. The company is expected to tell the federal agency that the proposed merger of the Santa Fe Railway and Southern Pacific Transportation Co. would
	Santa Fe acts to keep St. Louis rail access Chicago Sun-Times ; Santa Fe Ry., fearing that a proposed sale of a rail line between Chicago and St. Louis to the Southern Pacific RR threatens its access into St. Louis, said Wednesday it has a preliminary arrangement with a rival bidder to continue using the tracks. At issue is a stretch of track leading into East

See all results.