SMI wants to become private NASCAR track operator

CHARLOTTE, N.C. (AP) — The parent company of Speedway Motorsports Inc. has made an offer to acquire all of its outstanding common stock, the second move of its kind involving one of the key racetrack operators in NASCAR in the past five months.
Sonic Financial Corp. has offered to buy back all outstanding SMI stock for $18 per share. The stock closed at $13.94 on Tuesday and the 52-week high for the stock was $18.36.
Bruton Smith is the founder and majority stakeholder in SMI, which operat