Speedway Motorsports (TRK) approached by Sonic Financial Corporation

  • April 24, 2019


StockSpeedway Motorsports, Inc.SymbolTRK
Date Announced04/24/2019Source Press release
TypeUnsolicited BidAcquiring Company/Person Sonic Financial Corporation
Date of Confirmation: 07/23/2019Price at Confirmation: $19.86
Potential Profit: 7.18%Annualized Profit: 29.11%

Speedway Motorsports, Inc. (TRK) announced that on April 23, 2019, its Board of Directors received a non-binding proposal from Sonic Financial Corporation, to acquire all of the outstanding shares of common stock of the Company, other than the shares held by Sonic Financial, O. Bruton Smith, his family and entities controlled by Mr. Smith and his family, for cash consideration of $18.00 per share.

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