logo
Plus   Neg
Share
Email

Vail Resorts To Buy Peak Resorts For $11.00/shr

Vail Resorts Inc. (MTN) said it agreed to buy Peak Resorts Inc. (SKIS) for $11.00 per share. The aggregate purchase price for all Peak Resorts common stock is estimated to be about $264 million.

The transaction was approved by both companies' Boards of Directors, and the Peak Resorts Board of Directors also recommends that Peak Resorts' shareholders approve the transaction.

The transaction is expected to close this fall. Upon closing, Vail Resorts plans to retain the vast majority of each resort's employees.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Video game retailer GameStop Corp. laid off more than 120 employees, or nearly 14 percent of the total workforce at its corporate headquarters and at some other offices, according to reports. The layoffs also include senior editorial staff at Game Informer, the company's print and digital publication. Some of the senior staff at Game Informer took to Twitter to announce about their layoffs. Uber Technologies Inc. will establish a new U.S. general and administrative hub in Dallas, which will create 3,000 new jobs and more than $75 million in capital investment, Texas Governor Gregg Abbott said. Uber will get a grant of $24 million from the Texas Enterprise Fund or TEF, a business incentive fund that is used for attracting new business to the state and to ensure their growth. SAMpark LLC recalled 185 Children's pajama sets for burn injury risk to children. The pajamas failed to meet the flammability standard for children's sleepwear that requires sleepwear to be either snug-fitting or flame resistant. However, there have been no incidents or injuries reported so far.
Follow RTT