Vail Resorts Inc. has completed its acquisition of Whistler Blackcomb Holdings Inc.
Under the terms of the transaction, Vail Resorts acquired 100 percent of the stock of Whistler Blackcomb, whose shareholders received C$17.50 in cash and 0.097294 shares of Vail Resorts common stock (or for some holders, securities convertible into common stock) for each Whistler Blackcomb share held. Whistler Blackcomb is now wholly owned by Vail Resorts.
In connection with the completion of the arrangement, Vail Resorts is also pleased to announce that Michele Romanow, a former member of the Whistler Blackcomb board of directors, has been appointed to the board of directors of Vail Resorts.
Rob Katz, chairman and chief executive officer of Vail Resorts, said, “Our mission at Vail Resorts is to deliver an experience of a lifetime to our guests and our employees, and this transaction is a significant milestone in making that experience even more special. Whistler Blackcomb is one of the most iconic mountain resorts in the world and we are tremendously excited to welcome the resort and the talented team who work there to the Vail Resorts family. Dave Brownlie and the team at Whistler Blackcomb have built an excellent operation that delivers amazing guest experiences, and we intend to continue to support that work while maintaining the resort’s unique brand and Canadian identity. We look forward to working with the Whistler Blackcomb team to ensure the long-term success of the resort and the community.”
With the completion of the acquisition, the common shares of Whistler Blackcomb will be de-listed from the Toronto Stock Exchange at the close of trading on October 17, 2016.
Vail Resorts’ subsidiaries operate ten mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher in Australia; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan.
Vail Resorts also owns and/or manages a collection of hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, WY. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts Inc.
