Vail Resorts, Whistler combination receives Investment Canada Act approval
Vail Resorts and Whistler Blackcomb Holdings announced that Vail Resorts has received Investment Canada Act approval in connection with the previously announced strategic combination joining Whistler Blackcomb with Vail Resorts by way of plan of arrangement. As previously announced on September 23, 2016, the Canadian Competition Bureau issued a no-action letter under the Competition Act in respect of the arrangement. No further regulatory approvals are required in order for the transaction to close. The proposed combination remains subject to certain closing conditions, including approval by Whistler Blackcomb shareholders and the Supreme Court of British Columbia. Subject to receipt of such approvals and the satisfaction of other customary conditions, the arrangement is expected to close on October 17, 2016.