VANCOUVER – Whistler-Blackcomb Holdings — owner of one of Canada’s biggest ski resorts — will be purchased by Colorado-based Vail Resorts Inc. under a friendly deal announced this morning by the companies.
Whistler CEO Dave Brownlie says Vail would provide his company with greater financial strength and greater diversity through alliances in the United States, Australia and Canada.
Vail CEO Rob Katz says the combined expertise of the two companies will improve the experience for guests and preserve the brand and character of the B.C. all-season resort — which is about 125 kilometres north of Vancouver.
Whistler-Blackcomb shareholders are being offered C$676 million of cash and Vail stock (NYSE:MTN) worth about C$715 million — making the deal worth nearly C$1.4 billion.
Whistler-Blackcomb shares closed in Toronto on Friday at C$25.14 — giving it a market value of about C$960 million prior to Monday’s announcement.