The Vail/Peak Merger Is One Step Closer To Completion
Peak Resorts, Inc. has announced that at a special meeting held on Friday, September 20, the shareholders have voted to approve the merger agreement for the acquisition of the company by Vail Resorts, Inc.
Under the terms of the merger agreement, Peak Resorts’ common shareholders will be entitled to receive $11.00 per share in cash at the closing of the acquisition. The transaction is expected to close on or about September 24, 2019.
Once the acquisition has been completed, Peak Resorts will become privately held as an indirect, wholly-owned subsidiary of Vail Resorts.
According to a press release from Peak Resorts, Inc., approximately 89% of the company's outstanding shares, as of the close of business on August 19, 2019, voted in favor of the merger agreement.
The consummation of the merger remains subject to the satisfaction or waiver of certain other closing conditions set forth in the merger agreement and discussed in detail in the Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (“SEC”) by the Company on August 20, 2019, as supplemented by the supplemental disclosures filed with the SEC by the Company on August 29, 2019, September 4, 2019 and September 11, 2019.
Photo Credit: Peak Resorts/FB
Comments
Post a Comment