An investor group has asked federal regulators...

An investor group has asked federal regulators to approve the purchase of more than 50% of Kansas City Southern Industries Inc. The move opens the door for a hostile takeover bid for Kansas City Southern by the group, led by Howard Kaskel, president of New York-based Carol Management Co. At the current market price of $78.75 a share, the purchase would cost $376 million. The group objects to Kansas City Southern’s offer to buy the Southern Pacific Transportation Co., citing Southern Pacific’s negative cash flow and lack of profitability. The Justice Department and the Federal Trade Commission must give their consent under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.