Union Pacific will withdraw its offer for a railroad.

Officials of Union Pacific said the company expects to withdraw its offer to buy the Missouri-Kansas-Texas Railroad from Katy Industries. A Union Pacific spokesman said the $108-million offer would be withdrawn because the Missouri-Kansas-Texas, known as the Katy, failed to obtain 60% of 670,000 outstanding income certificates. The Katy was to be purchased by the Missouri-Pacific Railroad, a unit of Union Pacific, and the deal was contingent on the Katy's ability to obtain 60% of the outstanding income certificates.

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