BRIEF-Vail and Whistler Blackcomb agree to strategic combination

Mon Aug 8, 2016 7:09am EDT
 
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Aug 8 (Reuters) - Whistler Blackcomb Holdings Inc :

* Vail Resorts and Whistler Blackcomb agree to strategic combination

* Whistler blackcomb shareholders would receive c$17.50 per share in cash and 0.0975 shares of vail resorts common stock

* Whistler Blackcomb holdings inc says transaction has been unanimously approved by whistler blackcomb board of directors

* Stock component determined by a baseline share exchange ratio of 0.0998 shares of vail resorts common stock

* Vail Resorts intends to finance cash component of deal through an expansion of its existing credit facility

* Aggregate stock component of offer is estimated to be c$715 million (usd$543 million)

* Deal for consideration having a total value of c$36.00 per share

* Aggregate cash component of offer is estimated to be c$676 million (usd$513 million)   Continued...