Canadian government approves $1B acquisition.
The world’s biggest ski resort company just got bigger. Vail Resorts, which operates ski resorts in five states and Australia, announced that the Canadian Competition Bureau has issued a no-action letter indicating that it does not intend to challenge the proposed strategic business combination joining Whistler Blackcomb with Vail Resorts. The acquisition was announced in early August. “Whistler Blackcomb is one of the most iconic mountain resorts in the world with an incredible history, passionate employees, and a strong community. With our combined experience and expertise, together we will build upon the guest experience at Whistler Blackcomb while preserving the unique brand and character of the resort as an iconic Canadian destination for guests around the world. We are delighted to add such a renowned resort to Vail Resorts and look forward to expanding our relationships in the Sea-to-Sky community, British Columbia, and Canada,” said Rob Katz, chairman and CEO of Vail Resorts. The transaction is expected to close in the fourth quarter of 2016. Read more HERE.