Canadian Court Gives Vail Resorts and Whistler Blackcomb Approval For Merger

Vail Resorts (MTN) shares were just higher Monday morning after the Supreme Court of British Columbia granted a final order approving the proposed strategic combination of the company with Whistler Blackcomb Holdings under the Business Corporations Act of British Columbia.

The company said no further regulatory approvals are required in order for the transaction to close on Oct 17.

Under the terms of the transaction, Vail Resorts will acquire 100% of the issued and outstanding shares of Whistler Blackcomb, whose shareholders will receive CAD$17.50 ($23.14) 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 $0.7765 six business days before the effective date of the transaction.

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