Operations under CSX and NS began on June 1, 1999, bringing Conrail's 23-year existence to an end. ... In three major metropolitan areas – North Jersey, South Jersey/Philadelphia, and Detroit – Conrail Shared Assets Operations continues to serve as a terminal operating company owned by both CSX and NS.

What happened Conrail stock?

CSX will acquire 40 percent of Conrail stock for cash at $92.50 a share, with the remaining 60 percent exchanged for stock at a ratio of 1.86 CSX shares for every Conrail share.

Is CSX a Conrail?

In the spring of 1997, Norfolk Southern Corporation (NS) and CSX Corporation (CSX) agreed to acquire Conrail through a joint stock purchase. CSX and NS split most of the Company's assets between them.