Vail-Whistler Deal One Step Closer
Whistler Blackcomb Holdings Inc. shareholders have approved a proposal that will see Vail Resorts Inc. purchase the iconic BC ski resort.
At a special meeting this week, the deal was approved by approximately 99.99% of the votes cast by all of the Whistler Blackcomb shareholders eligible to vote.
Dave Brownlie, Whistler Blackcomb’s chief executive officer commented, “This strategic combination provides compelling benefits for our shareholders, our resort and our community and we are pleased that our shareholders have voted in favour of this exciting step for Whistler Blackcomb.”
As previously announced, no further regulatory approvals are required for the transaction to close. Earlier, Vail received Investment Canada Act approval on its proposal, as well as the go-ahead from the Canadian Competition Bureau.
The proposed deal remains subject to closing conditions, including approval by the BC Supreme Court, but is expected to close on Oct. 17.
Under terms of the transaction, Vail Resorts will acquire 100% of the stock of Whistler Blackcomb, whose shareholders will receive $17.50 per share in cash and 0.0998 shares of Vail Resorts common stock for each Whistler Blackcomb share held.
