By John J. Edwards III and Yueqi Yang | Bloomberg
Nascar Holdings Inc. agreed to buy International Speedway Corp. for about $2 billion in cash, more tightly combining two companies already controlled by the France family.
Nascar raised its price to clinch the deal for the owner of famous stock-car racing venues including the Daytona International Speedway in Florida and the Talladega Superspeedway in Alabama. International Speedway shareholders will get $45 a share under the agreement announced Wednesday, up from a $42 offer in November.
The idea at the time was to combine the companies as a privately held group, with the France family as the primary owners. Jim France is chairman of International Speedway and chief executive officer of Nascar.