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October 25, 1994|From Times Staff and Wire Reports

Proposed Railroad Merger Scrapped: Plans by Illinois Central Corp. to buy Kansas City Southern Industries' 2,500-mile rail operations for about $686 million in stock were terminated, the companies announced, citing a failure to agree "on a number of issues." The merger would have created the nation's seventh-largest railroad by linking two north-south systems that cover the nation's midsection. Kansas City Southern said it also canceled plans to spin off its mutual funds and financial services lines, which include the Janus and Berger fund families.

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