According to a report from StreetInsider.com, it appears that NASCAR will be handing out a much more generous offer in an effort to gain control of ISC (International Speedway Corporation).
When the sanctioning body first made an attempt to land the race track company, they offered $42 per share, which is actually under today’s asking price.
This report states they are prepared to increase that offer to $47 per share (ISC’s current stock price is in the $43 range). Street Insider calls the move imminent.
ISC, which was founded by the France family — who also founded NASCAR — owns some premier racing venues including Daytona International Speedway, Homestead-Miami Speedway (which has featured the championship race for years) and ISM Raceway in Phoenix (which will feature the championship race next season).