SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
September 27, 1994
KANSAS CITY SOUTHERN INDUSTRIES. INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-4717 44-0663509
(State or other juris- (Commission file (IRS Employer
diction of incorporation) number) Identification number)
114 West 11th Street, Kansas City, Missouri 64105
(Address of principal executive offices) (Zip Code)
Reqistrant's telephone number, including area code:
(816) 556-0303
N/A
(Former name or former address if changed since last report)
<PAGE>
Item 5. Other Events.
On September 27, 1994, Kansas City Southern Industries, Inc.'s ("the
Registrant's") wholly-owned subsidiary, DST Systems, Inc. together with Kemper
Financial Services, Inc. ("Kemper"), entered into a definitive agreement ("the
Agreement") with State Street Boston Corporation ("State Street") for the sale
to State Street of IFTC Holdings, Inc. ("Holdings"), which wholly owns
Investors Fiduciary Trust Company ("IFTC"). Under the Agreement, State Street
is to issue approximately 5.6 million shares of its common stock to DST and
Kemper in exchange for all of the outstanding stock of Holdings. The actual
amount of stock to be received at closing is dependent upon a formula set
forth in the definitive agreement. DST and Kemper each own 50% of Holdings.
The closing of the sale of Holdings is subject to several conditions including
regulatory approval. The press release of the Registrant dated September 27,
1994 is also filed herewith as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
Exhibit No. Document
(99) Additional Exhibits
99.1 Press Release, dated September 27, 1994
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Kansas City Southern Industries, Inc.
Date: October 6, 1994 By: /s/ Louis G. Van Horn
Louis G. Van Horn
Comptroller
(Principal Accounting Officer)
Exhibit Index
Exhibit No. Document Page No.
99.1 Press Release, dated September 27, 1994 2
NEWS RELEASE - SEPTEMBER 27, 1994 "Exhibit 99.1"
KANSAS CITY SOUTHERN INDUSTRIES, INC. ANNOUNCES
DEFINITIVE AGREEMENT WITH STATE STREET BOSTON CORPORATION FOR INVESTORS
FIDUCIARY TRUST COMPANY
Kansas City Southern Industries, Inc. announced that its subsidiary, DST
Systems, Inc. and Kemper Financial Services, Inc. - parties to a letter of
intent with State Street Boston Corporation for the acquisition by State
Street of Investors Fiduciary Trust Company - today entered into a definitive
agreement for that transaction.
As announced previously, the transaction involves the receipt by DST and
Kemper (each a 50% holder of IFTC through a holding company) of common stock
in State Street valued at approximately $225 million for all of the stock of
the IFTC holding company. Closing of the transaction remains subject to
several conditions, including the obtaining of regulatory approvals.
IFTC has approximately $130 billion in assets under custody. With $1.6
trillion in assets under custody and $139 billion in assets under management,
State Street is a leading servicer of financial assets worldwide.
