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Sonic offers to buy all outstanding shares of SMI common stock

NASCAR

Sonic offers to buy all outstanding shares of SMI common stock

By Kelly Crandall - Apr 24, 2019, 9:57 AM ET

Speedway Motorsports Inc. (SMI) has announced it has received a non-binding proposal from Sonic Financial Corp. to acquire all outstanding shares of common stock not already held by Sonic.Sonic is owned and controlled by Bruton Smith and family. Smith being the founder of SMI. The offer is $18 per share.SMI...

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