Vail Resorts makes $1 billion takeover offer for Whistler Blackcomb

First published on August 8, 2016 by Mike Gorrell, The Salt Lake Tribune

In the News! Vail Resorts' dominance in North American skiing skyrocketed Monday with the announcement it had bought Whistler Blackcomb in British Columbia.

Vail already had the second largest ski area in Park City Resort. With this purchase, it has now added the biggest resort.

The cash-and-stock deal is worth more than $1 billion, a release from the two companies said. The cash component of the deal is worth $513 million, while stock considerations are valued at $543 million.

Katz said Vail will integrate Whistler Blackcomb into its Epic Season Pass program for the 2017-18 winter season.

"Whistler Blackcomb is one of the most iconic mountain resorts in the world with an incredible history, passionate employees and a strong community. With our combined experience and expertise, together we will build upon the guest experience at Whistler Blackcomb while preserving the unique brand and character of the resort as an iconic Canadian destination for guests around the world. We are delighted to add such a renowned resort to Vail Resorts and look forward to expanding our relationships in the Sea-to-Sky community, British Columbia and Canada," said Rob Katz, chairman and chief executive officer of Vail Resorts.

Whistler Mountain and Blackcomb Mountain are two side-by-side mountains connected by the world record-breaking PEAK 2 PEAK Gondola, which combined offer more than 200 trails, over 8,000 acres of terrain, 14 alpine bowls and three glaciers. The resort receives on average more than 465 inches (1,180 centimeters) of snow annually, and offers one of the longest ski seasons in North America. In summer, Whistler Blackcomb offers a variety of activities, including hiking and biking trails, the Whistler Mountain Bike Park, and sightseeing on the PEAK 2 PEAK Gondola. Whistler Blackcomb has been named the #1 ski resort in North America by SKI Magazine in three out of the past four years.

Click here for the full press release by Vail Resorts.

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