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Sonic Financial To Own 29M Shares Of Speedway Motorsports

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Speedway Motorsports (NYSE: TRK) announced that Sonic Financial Corporation has entered into a definitive merger agreement for Sonic Financial's subsidiary to acquire all of the outstanding shares of common stock of the company for cash consideration of $19.75 per share.

The closing of this tender offer and merger transaction is expected to take place in the third quarter of 2019.

Speedway Motorsports shares closed up 0.96% at $18.95 on Tuesday. The stock has a 52-week high of $19.04 and a 52-week low of $13.47.

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