Honda F1 website

AUGUST 20, 2003

Meanwhile in America...

There is much manoeuvring going on around the CART series as the share price continues to drop. The share price hit a new low earlier today of $1.06 having started the week at $1.83. The fall in the share price has been caused by investors getting out of the business following an offer of a takeover bid for the company at $0.50 a share. The big question is who is buying the shares that are being sold as it could be that those opposed to the takeover bid are building up their shareholdings so as to block the deal. One man known to be opposed to the idea is Jon Vannini, who owns around 9% of the shares who is rumored to be planning to sue CART over what has been happening in recent months.