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MTN

Vail Resorts

$155.79

0.22 (0.14%)

18:31
10/07/16
10/07
18:31
10/07/16
18:31

BC Supreme Court approves Vail Resorts, Whistler Blackcomb combination

Vail Resorts and Whistler Blackcomb Holdings announced that the Supreme Court of British Columbia has granted a final order approving the previously announced proposed strategic combination joining Whistler Blackcomb with Vail Resorts by way of an arrangement under the Business Corporations Act. The granting of the final order follows the approval of the strategic combination by Whistler Blackcomb shareholders on October 5, 2016. As previously announced on October 5, 2016, no further regulatory approvals are required in order for the transaction to close. Completion of the proposed combination remains subject to other customary closing conditions, including applicable stock exchange approvals. The transaction is expected to close on Monday, October 17, 2016. Under the terms of the transaction, Vail Resorts will acquire 100% of the issued and outstanding shares of Whistler Blackcomb, whose shareholders will receive C$17.50 per share in cash and 0.0998 shares of Vail Resorts common stock for each Whistler Share held. The stock component of the consideration is subject to an exchange rate adjustment if the Canadian dollar is above or below US$0.7765 six business days before the effective date of the transaction. The Canadian dollar noon spot exchange rate was US$0.7570 on October 6, 2016, six business days before the expected effective date of the transaction. Based on that exchange rate, if the transaction becomes effective on October 17, 2016, Whistler Blackcomb shareholders will receive C$17.50 per share in cash and 0.097294 shares of Vail Resorts common stock for each Whistler Share held.

MTN Vail Resorts
$155.79

0.22 (0.14%)

04/07/16
04/07/16
INITIATION
Target $150

Buy
Vail Resorts initiated with a Buy at Sterne Agee CRT
Target $150.
06/10/16
06/10/16
NO CHANGE

Vail Resorts season pass sales have been strong, says Sterne Agee CRT
After Vail reported its Q3 results, Sterne Agee CRT says that sales of the company's season passes were strong. The firm thinks that the company could return more cash to shareholders and/or make accretive acquisitions. It raised its price target on the name to $155 from $150 and keeps a Buy rating on the shares.
07/19/16
BOFA
07/19/16
NO CHANGE
BOFA
Buy
Vail Resorts price target raised to $156 from $150 at BofA/Merrill
BofA/Merrill analyst Shaun Kelley raised Buy rated Vail Resorts' price target to $156 from $150 and said the Epic Discovery program pricing looks solid.
08/23/16
KEYB
08/23/16
NO CHANGE
KEYB
Vail Resorts price target raised to $175 from $150 at KeyBanc
KeyBanc raised its price target on Vail after the company acquired Whistler Blackcomb. The firm thinks that the deal "favorably complements" Vail's portfolio. According to KeyBanc, Whistler provides "a broader geographic reach, an increasingly diversified guest base, and incremental pricing power" over the longer term. The firm keeps an Overweight rating on the stock.

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