Here’s The Reason Why Dover Motorsports Stock Is Gaining Momentum Today

Today in pre-market trading sessions, the price of Dover Motorsports (DVD) is growing very well by over 57 percent to a new peak of 3,59 USD. According to the last statements, Speedway Motorsports has announced that it plans to acquire Dover Motorsports, the parent company of Dover International Speedway, for almost $131.5 million. If in detail, it has agreed to acquire Dover Motorsports for 3,61 USD per share in cash.

Speedway Motorsports has given its approval to the deal. The company Speedway Motorsports has 8 NASCAR tracks; among them are in Charlotte, Bristol, and Atlanta. Speedway is an American company that owns and operates auto races. According to the deal, all Dover Motorsports investors will receive the same per-share payment. Also, holders of about 57.5% of shares of Dover Motorsports, or 92% of voting power, have agreed to tender their shares. Dover Speedway has made a special committee to review the final agreement, which is expected to be concluded by the end of the year. If observing the price movement in the last trading, the stock closed the session at $2.2800, losing by 0.44%. By now, it has an almost 83 million market cap while the trading volume of 137,506 shares.