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Vail Resorts, Inc.NYSE
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  • Mon, Oct. 17, 9:05 AM
    • Vail Resorts (NYSE:MTN) announces it completed its deal to acquire Whistler Blackcomb Holdings Inc. (OTC:WSBHF).
    • In connection with the deal completion, Vail Resorts adds former Whistler board member Michele Romanow to its board of directors.
    • With the completion of the acquisition, Whistler Blackcomb will be delisted from the Toronto Stock Exchange at the close of trading today.
    • Source: Press Release
    | Mon, Oct. 17, 9:05 AM
  • Sat, Sep. 24, 8:47 AM
    • Vail Resorts (NYSE:MTN) says the Canadian Competition Bureau has indicated that it won't challenge the proposed business combination with Toronto-traded Whistler Blackcomb Holdings (OTC:WSBHF).
    • Whistler Blackcomb shareholders have until October 3 to vote on accepting the deal.
    • Previously: Vail Resorts acquires Whistler Blackcomb (Aug. 8)
    • Source: Press Release
    | Sat, Sep. 24, 8:47 AM | 3 Comments
  • Mon, Aug. 8, 7:10 AM
    • Vail Resorts (NYSE:MTN)  announces it acquired Whistler Blackcomb Holdings for C$17.50 per share in cash and 0.0975 shares of Vail Resorts common stock, for a total consideration of C$36.00 per share.
    • The deal sees Vail assume control of the iconic Whistler mountain resort.
    • Whistler Blackcomb will nominate one member of its board to the Vail Resorts board of directors, and Dave Brownlie will continue leading Whistler Blackcomb as the resort's chief operating officer and will become a member of the senior leadership team of Vail Resorts' mountain division.
    • The transaction has been unanimously approved by the Whistler Blackcomb board of directors, and shareholders representing 25% of Whistler Blackcomb's common shares have entered into voting support agreements in connection with the transaction.  The transaction has also been unanimously approved by the Vail Resorts board of directors.
    • The aggregate cash component of the offer is estimated to be C$676 million ($513M) which Vail Resorts intends to finance through an expansion of its existing credit facility.
    • Upon closing of the transaction, Whistler Blackcomb shareholders collectively will own approximately 10% of Vail Resorts outstanding common stock.
    • Source: Press Release
    | Mon, Aug. 8, 7:10 AM | 2 Comments
  • Mar. 30, 2015, 5:35 PM
    • Vail Resorts (NYSE:MTN) is buying Perisher Ski Resort for AU$176.6M ($136M) in cash. The deal represents Vail's first purchase of an international resort, and is expected to close in the company's July quarter.
    • Vail notes Perisher, located in the state of New South Wales, is Australia largest/most visited ski resort, and holds a long-term lease/license that lasts until 2048 with a 20-year renewal option. Perisher is expected to produce $16M in EBITDA and $6M in free cash flow in its first year of operation following the purchase.
    • The deal will be financed using cash on hand and the revolver portion of Vail's credit facility.
    | Mar. 30, 2015, 5:35 PM
  • Sep. 11, 2014, 12:40 PM
    • Vail Resorts (MTN +8.3%) acquires the Park City Mountain Resort from Powdr Corp. for $182.5M.
    • The deal ends all litigation between the two companies.
    • Vail expects $35M in incremental EBITDA in FY15 as a result of the deal.
    | Sep. 11, 2014, 12:40 PM