Market Overview

Vail Resorts Will Acquire Peak Resorts For $11/Share

Share:
Vail Resorts Will Acquire Peak Resorts For $11/Share

Peak Resorts (NASDAQ: SKIS) will be acquired by Vail Resorts, Inc. (NYSE: MTN) for $11.00 per share in cash.

The transaction is expected to close in the fall. The transaction represents a 116% premium to Peak Resorts’ closing stock price on July 19.

Peak Resorts is a Missouri-based company that operates 17 ski resorts in the Midwest, Mid-Atlantic and Northeast. Vail Resorts is a mountain resort company.

"For over 22 years, our team has worked tirelessly to create what is one of the country's premier ski resort companies. We are now delighted to announce this agreement with Vail Resorts that creates substantial value for our shareholders and new opportunities for our guests," said Timothy Boyd, President and CEO of Peak Resorts. "During my time in the industry, I've come to know and respect Vail Resorts and believe they will build on our accomplishments and further improve the experience that our loyal guests enjoy both on and off the mountain."

Peak Resorts shares were trading up 6.8% at $5.45, while Vail Resorts shares were trading down 1.3% at $225.71 in Monday’s pre-market session.

Related Links:

Turning Point Brands To Acquire Solace Technologies In $15.25M Deal

Red Robin Trades Higher After Acquisition Interest

Posted-In: M&A News Top Stories Best of Benzinga

 

Related Articles (MTN + SKIS)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

GNC Reports Mixed Q2 Earnings

Halliburton Reports Mixed Q2 Results