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Bruton Smith-led company wants to take Speedway Motorsports private

Ken Elkins
Bruton Smith-led company wants to take Speedway Motorsports private

Sonic Financial Corp., owned by Bruton Smith and his family, is trying to take Concord-based Speedway Motorsports Inc. private with a nearly $735 million offer. Another of his sons, David Smith, is CEO of Charlotte-based Sonic Automotive Inc. (NYSE: SAH). In response to the buyout offer, Speedway Motorsports' board of directors has created a special committee to evaluate the proposed deal and suggest actions to the full board.