Baker Botts, Saul Ewing Pilot $2B NASCAR-Intl Speedway Buy
By Mike Curley (May 22, 2019, 1:02 PM EDT) -- Stock car racing organization NASCAR has agreed to acquire racetrack owner International Speedway, host of the famous Daytona 500 race, in a $2 billion deal guided by attorneys from Baker Botts and Saul Ewing, the companies announced Wednesday.
The merger, which has been in the works since November, will have NASCAR Holdings Inc. paying shareholders of International Speedway Corp. $45 for each share of stock. It was unanimously approved by a special committee of independent directors of International Speedway's board of directors, and then unanimously approved by the full board, according to the Wednesday statement.
International Speedway owns and operates 13 racetracks...
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