Two more NASCAR tracks now rest under the SMI banner
Speedway Motorsports LLC has purchased all shared of Dover Motorsports, Inc. (NYSE: DVD). The previously announced agreement has been completed as of today. The company was sold for $3.61 a share.
Per a company release, “The tender offer made pursuant to the agreement and plan of merger entered into by Speedway Motorsports, Speedco II and Dover on Nov. 8, 2021, expired at one minute following 11:59 p.m. (12:00 midnight), New York City time, on Dec. 21, 2021. The depositary and paying agent for the tender offer has advised Speedway Motorsports that, as of the expiration time, 32,932,500 shares of Dover (excluding shares with respect to which notices of guaranteed delivery were delivered but which shares such notices of guaranteed delivery represent were not yet delivered) had been validly tendered and not validly withdrawn, including 18,466,739 shares of class A common stock, representing approximately 90.5% of Dover’s outstanding shares.”
The merger is anticipated to be effective as of Dec. 22, 2021
“On behalf of our company I’d like to thank Denis McGlynn and Dover Motorsports for their cooperation and support through this process,” said Speedway Motorsports President and Chief Executive Officer Marcus Smith. “As our acquisition becomes complete, we look forward to turning our focus toward engaging the teams at Dover and Nashville to produce exciting events for race fans in 2022.”
With the purchased, Speedway Motorsports Inc has acquired Dover Speedway and Nashville Superspeedway.
Speedway Motorsports Inc
Track List
Atlanta Motor Speedway
Hampton, GA
Bristol Motor Speedway
Bristol, TN
Charlotte Motor Speedway
Concord, NC
Dover Motor Speedway
Dover, Delaware
Kentucky Speedway
Sparta, KY
Las Vegas Motor Speedway
Las Vegas, NV
Nashville Superspeedway
Lebanon, TN
New Hampshire Motor Speedway
Louden, NH
North Wilkesboro Speedway
North Wilkesboro, NC
Sonoma Raceway
Sonoma, CA
Texas Motor Speedway
Fort Worth, TX
Links
Dover Speedway | Nashville Superspeedway | Speedway Motorsports Inc | NASCAR
