Whistler was bought today in a massive $1.39 billion deal. Whistler/Blackcomb photo.
Updated Wednesday 8/10/16 1:33 PM MST: Whistler/Blackcomb will be included on the Mountain Collective pass for the winter of 16/17. Since Vail's announcement Monday, both Telluride and Revelstoke have been added to the Mountain Collective pass, making it an extremely popular option for those looking to get the most out of this program.
Cue the Darth Vader music... News broke this morning that Vail Resorts Inc. is set to buy Canadian ski company Whistler Blackcomb Holdings Inc. in a massive $1.39-billion deal according to USA Today.
The deal is expected to close this fall, when Vail Resorts is set to acquire 100 percent of Whistler Blackcomb. Shareholders of the company will receive C$17.50 per share in cash and 0.0975 shares of Vail Resorts common stock, for a total value of $27.38 per share.
Dave Brownlie, Whistler Blackcomb’s chief executive officer, said that Vail has “a track record and ultimately a commitment to reinvest more in the resort.” Whistler is currently investing heavily in other, non-winter activities after a less than stellar winter season. "Whistler Blackcomb, with its unprecedented acreage of high alpine terrain and Glacier bowls, is well positioned, but by no means immune to [weather] challenges,” Mr. Brownlie added.
Both board of directors have approved the deal, along with 25% of Whistler Blackcomb shareholders.
About The Author
stash member Jonathan Desabris
Digital Content Producer at TGR. Jackson Hole transplant from the Green Mountain State. Contrary to popular belief I have never lived in New Jersey.
frEEk
August 10th, 2016
Worth clarifying that this past season was an excellent one from a attendance (and I believe financial) standpoint. But there were some challenges with high temps (and similar snow issues the last few seasons too), which I gather is what is being referred to as the impetus for the non-winter activity investments.