Union Pacific agreed to acquire another railroad.

The rail and energy giant and Katy Industries said they have reached an agreement in which Union Pacific will acquire the Missouri-Kansas-Texas Railroad, the “Katy,” for about $108 million. Union Pacific said that a definitive merger agreement will be executed within a few days and that a merger application will be filed with the ICC by the end of the year. M-K-T, a 98% owned subsidiary of Katy Industries, operates 3,100 miles of track in Kansas, Missouri, Oklahoma and Texas.