International Speedway Corporation Announces Merger Agreement With NASCAR Holdings, Inc.
INTL SPEEDWAY (ISCA)
Last intl speedway earnings: 7/3 07:30 am
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US:NASDAQ Investor Relations:
ir.internationalspeedwaycorporation.com
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Source: GlobeNewswire
DAYTONA BEACH, Fla., May 22, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) announced today that it has entered into an Agreement and Plan of Merger (“Merger Agreement”) with NASCAR Holdings, Inc. (“NASCAR”) pursuant to which NASCAR will acquire ISC. The transaction is valued at approximately $2.0 billion. The consideration to be paid to ISC’s shareholders (other than certain controlling shareholders of ISC and certain related entities (the “Participating Shareholders”)) will be $45.00 in cash for each share of ISC Class A Common Stock and ISC Class B Common Stock. The Merger Agreement was unanimously recommended and approved by a special committee comprised solely of independent directors of the Board of Directors of ISC (the “Board”) and was unanimously approved by the full Board. In addition, the Participating Shareholders have signed a letter agreement to cause their respective shares of ISC C
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