Speedway Motorsports goes Private

This was rumored several months ago, I guess they're just now finalizing the details. Word is they go private so they can better move race dates around without a board to approve it.
 
So they offered $18 and wound up at $19.75? That's not a bad mark-up. The family was probably expecting $20 all along.

That reminds me, we haven't heard anything lately on the NASCAR takeover of ISC.
 
Last edited:
$19.75 a share..... Hmm..... It sure beats the price of a seat @ Bristol. Maybe they should offer free shares with the purchase of a Bristol Night Race Ticket?
 
Charlie Spencer said:
That reminds me, we haven't heard anything lately on the NASCAR takeover of ISC.
Click to expand...
That depends upon your definition of "lately." A couple weeks ago it was posted here that routine SEC filings seeking regulatory approval have been submitted to the SEC. (I'm no expert, but SEC objections on anti-trust or other grounds would be a real shocker in this tiny corner of the U.S. business landscape.) Before that, we've had posts about shareholders voting approval and about the France Family securing financing to complete the deal. So, it's on track, basically a "done deal."
 
Yeah I think ISC is a done deal also waiting approval. So hmmm do they merge, start changing things on the fly because they can? Hasn't seemed to stop them before when they had stockholders to satisfy. Penske seems to think it is a big deal and is all for it. It could get interesting.
 
LewTheShoe said:
That depends upon your definition of "lately." A couple weeks ago it was posted here that routine SEC filings seeking regulatory approval have been submitted to the SEC. (I'm no expert, but SEC objections on anti-trust or other grounds would be a real shocker in this tiny corner of the U.S. business landscape.) Before that, we've had posts about shareholders voting approval and about the France Family securing financing to complete the deal. So, it's on track, basically a "done deal."
Click to expand...
Yeah, I was waiting on the SEC approval. Then again, I have no clue how long this sort of thing takes under normal 'no objections' circumstances.

Although why a football conference would care is beyond me. :D
 
There's not much to build a conspiracy on there.

Now if the Frances, Smiths, and Hulmans were seen having dinner in Dover ... :ninja:
 
iu
 
The next big step is a merger between Nascar/ISC and SMI in a non-cash, stock transaction that makes the Smith family a significant equity holder in Nascar.

The next small step is Nascar buying the Dover track from the holding company that has already sold everything else it owns. This could happen before the Smith merger, or after.

All just idle speculation.
 
You must log in or register to reply here.
Back
Top Bottom