M&A News: Vail Resorts Buys Whistler Blackcomb Ski Resort

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Vail Resorts, Inc. (NYSE:MTN) has reportedly acquired Whistler Blackcomb Holdings Inc for $1.1 billion.

Vail ResortsThe deal is worth C$1.4 billion for Whistler Blackcomb as the sky resort is located in Vancouver, BC. The deal will net Vail Resorts 100% of the Canadian company’s stock, with shareholders receiving C$17.50 per share in care, plus 0.0975 shares of Vail Resorts common stock.

Overall, this will tally up to $27.38 per share. One of Whistler’s board members will join Vail Resorts’ board of directors, pending a nomination from the company. David Brownlie will remain as Whistler’s CEO.

Vail is located in Colorado, and it is the most visited ski resort in the U.S. The company has been around for five decades, and it has expanded to a number of resorts in the U.S., including Colorado’s Breckenridge, California’s Heavenly, and the country’s largest ski resort in Utah’s Park City.

Whistler Blackcomb is the largest ski resort in North America, with its origins dating back to 1914 when it existed as a fishing resort called Rainbow lodge. The name arose from the availability of Rainbow trout in the area.

The name refers to two adjacent mountains called Whistler and Blackcomb that are linked together by a gondola, and include more than 200 trails. It has one of the longest ski seasons in the world, and it is also known for its mountain biking in the summer.

Vail Resorts has surged in popularity within the last decade thanks to its Epic Pass, which offers a season pass that can be redeemed at all Vail locations around the nation. The program has cutting-edge technology attached to it, capable of tracking skiers’ stats.

MTN shares rose 6.5% Monday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/08/vail-resorts-whistler-blackcomb-mtn-stock/.

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