Vail Resorts strikes $1.4-billion deal to buy Canada’s Whistler Blackcomb
The Globe and Mail
Published Monday, Aug. 08, 2016 7:19AM EDT
Last updated Monday, Aug. 08, 2016 7:59AM EDT
"Vail Resorts Inc. has struck a deal to acquire Canada’s Whistler Blackcomb Holdings Inc. worth what the two companies say is $36 a share, or $17.50 cash and 0.0975 of a share.
Whistler chief executive officer Dave Brownlie said the deal, worth about $1.39-billion, would boost the Canadian company’s financial heft and marketing, among other things.
“We will also continue our discussions with the Squamish and Lil’wat First Nations, on whose traditional lands we operate, regarding a business partnership that will benefit our communities, our province and our company for decades to come,” he said in a statement.
Related: How Whistler transformed itself in to a top skiing draw
“Our board of directors has also been monitoring the unique challenges facing the broader ski industry to the unpredictability of year-to-year regional weather patterns.”
Whistler is one of Canada’s major ski sites, while Vail boasts mountain resorts across the United States and in Australia."