NASCAR Offers to Purchase International Speedway Corporation (ISC)
RacingIn Photo: A mid-2000s Daytona 500 from High Atop Turn 4
NASCAR's about to change... or is it? For a long time, there's been a separation of NASCAR and International Speedway Corporation (ISC) as one member of the France family has presided over NASCAR and another family member has presided over ISC. Well, it looks like that could change sometime in the future with NASCAR having now offered to purchase the company that owns multiple tracks where about half of NASCAR's nationally sanctioned races occur.
As reported by Autoweek and Bloomberg earlier today, NASCAR has made an offer valued at approximately $1.9 billion to acquire all of the outstanding Class A and Class B shares of common stock of ISC that aren't already controlled by the controlling shareholders of NASCAR itself.
In summary, as conveyed by NASCAR in it's press release, "The intention is to combine ISC and NASCAR as one privately run group of companies led by the France family." To read the complete press release from NASCAR, click here.
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