An old stock or bond certificate may still be valuable even if it no longer trades under the name printed on the certificate. The company may have merged with another company or simply changed its name.

What happened Conrail stock?

The federal government sold its 85 percent stake in Conrail by offering 58.75 million common shares to the public. The remaining 15 percent of the freight carrier will be owned by Conrail’s employee stock ownership program.

What is Conrail worth?

Barring further increases, CSX’s offer is worth approximately $8.5 billion, with 40 percent in cash at $110 a share (up from $92.50) and 60 percent in an exchange of shares worth about $81.50 at today’s stock price.

Was Conrail a success?

While the Staggers Act helped immensely in allowing all railroads to more-easily abandon unprofitable rail lines and set their own freight rates, it was under Crane’s leadership that Conrail truly became a profitable operation.

Are railroad stocks a good investment?

High profitability, a moat, stable businesses, a good return on capital and a focus on rewarding shareholders has pushed railroad stocks to extremely high levels.

Why does CSX want Conrail?

David LeVan, Conrail’s CEO, said he favored a Conrail-CSX combination because CSX “is both bigger and better than Norfolk Southern’s system in terms of geographic coverage.” He added, “CSX offers more [freight] origins and therefore more opportunities for new single-line service and better port coverage and better …

How are CSX and Ns related to Conrail?

The old company remains a jointly-owned subsidiary, with CSX and NS owning respectively 42% and 58% of its stock, corresponding to how much of Conrail’s assets they acquired. Each parent, however, has an equal voting interest.

When did the government sell its interest in Conrail?

The government decided its interest in Conrail would then be sold by the then-largest initial public offering in US history. The sale was effective from March 26, 1987 when Conrail’s stock, worth $1.65 billion, was sold to private investors.

What are the stock prices of railroad companies?

The company reported revenue of $14.3 billion for the 12 months ended Dec. 31, 2018, and earnings per share of $5.87. It currently trades at $94, up 26.82% year-to-date, with a 52-week range of $70.36 to $96.49. The high estimate for the stock is $120.61.

Is there any value to an old stock certificate?

At the same time, don’t be too quick to toss what seem like worthless certificates from a long-defunct company. Even if they turn out to be legally worthless, they can still have value—perhaps quite a bit.