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    Elephantlips's Avatar
    Elephantlips Posts: 2, Reputation: 1
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    #1

    Apr 28, 2014, 03:28 PM
    Do these stocks have value today?
    I may be inheriting some shares of a stock purchased over fifty years ago. Originally named Interlake Corp. they seemed to have ultimately been absorbed into a UK company called GKN, currently trading at appx. 380 pounds. Are the original Interlake Corp shares still valid as shares of GKN?
    cdad's Avatar
    cdad Posts: 12,687, Reputation: 1438
    Internet Research Expert
     
    #2

    Apr 28, 2014, 05:57 PM
    It looks like you might have to have the stocks valued by a broker. The reason for it is they can do the research to find out if the stocks had and splits. 50 years ago there may have been 100 shares where after all the splits there could be 2 to 4 times as many shares. I dont see the company ever being sold to GKN as you have stated. I think what it may be is a subsidiary company of the parent.


    Here is some history on it:

    History of The Interlake Corporation – FundingUniverse
    Elephantlips's Avatar
    Elephantlips Posts: 2, Reputation: 1
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    #3

    Apr 29, 2014, 10:10 PM
    Quote Originally Posted by cdad View Post
    It looks like you might have to have the stocks valued by a broker. The reason for it is they can do the research to find out if the stocks had and splits. 50 years ago there may have been 100 shares where after all the splits there could be 2 to 4 times as many shares. I dont see the company ever being sold to GKN as you have stated. I think what it may be is a subsidiary company of the parent.


    Here is some history on it:

    History of The Interlake Corporation – FundingUniverse
    Here's an article that appeared on the New York Times:

    COMPANY NEWS; GKN TO ACQUIRE INTERLAKE, A SUPPLIER, FOR $261 MILLION

    Published: December 8, 1998




    The British engineering and industrial components maker GKN P.L.C. said yesterday that it had agreed to buy the Interlake Corporation of Lisle, Ill. a major supplier of powdered metals and other specialty products, for $261 million. GKN will also assume $292 million of debt. GKN said it had bid $7.25 a share for Interlake. Interlake's stock almost doubled, gaining $3.4375 a share, to $6.9375. GKN said Interlake's three businesses -- ferrous powdered metals, aerospace engine components and containers -- would help bolster its United States sales.

    Any additional thoughts?
    ebaines's Avatar
    ebaines Posts: 12,130, Reputation: 1307
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    #4

    Apr 30, 2014, 05:49 AM
    I found tthis news item, whihc seems to indicate that the offer to exchange GKN for Interlake shares would have expired in 1999:

    GKN Commences Tender Offer for Interlake. - Free Online Library

    However, I suggest contacting GKN Investor Relations to ask:

    Managing your shareholding - GKN PLC

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