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Vail Resorts ups bid for The Canyons
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BROOMFIELD (AP) - Vail Resorts has boosted its offer for The Canyons ski resort in Utah.
According to a filing with the Securities and Exchange Commission, Broomfield-based Vail Resorts sent a letter Monday to the board chairman of American Skiing Company, which owns The Canyons.
Vail said that in addition to its previous $110 million cash offer, it also would offer a 30 percent interest in net cash flow arising from real estate rights that would be transferred in the sale.
Vail Resorts estimates the stake could produce up to $650 million for American Skiing Company through 2020.
Vail is trying to overtake a rival $100 million offer from an affiliate of Toronto-based Talisker Corporation.
(Copyright Associated Press, All Rights Reserved)
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i liked the canyons when i was there.
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I have never been there, but I hear it's pretty sweet!
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well if vail gets ownership kiss your beloved resort goodbye.
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man, american skiing company is really going to shit,
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i thought ASC was planning on keeping the canyons and whatever they didn't sell on the east coast
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my parents have a time share there
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I think if Vail ran The Canyons it would run smoother unlike the shitty management of ASC. Vail resorts has a lot more money than ASC and knows how to actually run a ski area.
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yea for people with money
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Do you think that it will be included in the Vail pass?
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When Vail purchased Keystone and Heavenly, prices at those ski areas did not go up although several improvements to the ski area were made.
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Yea, Keystone has a pretty nice village now. I mean it's not Vail or Beaver Creek but it's pretty nice. Better than what it was before when the Durkems owned it.
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the canyons has been bought and sold repeatedly for soo long. hopefully Vail Resorts will be able to make somthing of it and keep it going. It has a lot of potential it just need some improvements
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