WilmerHale Advises Vail Resorts on Acquisition of Peak Resorts
On July 22, 2019, Vail Resorts, Inc. announced that it entered into a definitive merger agreement to acquire all outstanding of Peak Resorts, Inc. (NASDAQ: SKIS) at a purchase price of $11 per share, subject to the satisfaction of closing conditions, including regulatory review and Peak Resorts’ shareholder approval. Through the acquisition, Vail Resorts seeks to add 17 US ski areas to its network of world-class resorts. The new locations will be near major metropolitan areas including New York, Boston, Washington DC, Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville. If closed, the transaction will continue to advance Vail Resorts’ core strategy of driving season pass sales and creating a stronger connection between key skier markets and the company’s iconic destination mountain resorts.