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Vail Resorts Completes Peak Resorts Buyout
11:51 AM EDT,
09/24/2019 (MT Newswires) -- Vail Resorts ( MTN
) said Tuesday that it has completed the acquisition of Peak Resorts ( SKIS ) for $11 per Peak Resorts ( SKIS
) share, adding 17 US ski areas to its network of
resorts.
Peak's shares are set to be delisted from Nasdaq effective the same day. With the merger, Vail said it plans to invest about $15 million over the next two years to upgrade the Peak resorts. Vail also estimates its annual ongoing capital expenditures to increase by about $10 million due to the additional assets.
Price: 237.16, Change: -2.30, Percent Change: -0.96
) said Tuesday that it has completed the acquisition of Peak Resorts ( SKIS ) for $11 per Peak Resorts ( SKIS
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Peak's shares are set to be delisted from Nasdaq effective the same day. With the merger, Vail said it plans to invest about $15 million over the next two years to upgrade the Peak resorts. Vail also estimates its annual ongoing capital expenditures to increase by about $10 million due to the additional assets.
Price: 237.16, Change: -2.30, Percent Change: -0.96
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