August 8, 2016 / 11:12 AM / in 2 years

BRIEF-Vail and Whistler Blackcomb agree to strategic combination

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)

* For full 2016-17 winter season, Whistler Blackcomb will continue to honor resort’s existing season pass products

* Stock component adjusted for currency exchange rate changes if Canadian dollar is above or below $0.7765 six business days before deal closing

* Whistler Blackcomb will maintain its brand

* Upon closing Whistler shareholders collectively will own 10 percent of vail resorts outstanding common stock

* Whistler Blackcomb’s relationship with Nippon cable will be unaffected and will continue after closing of transaction Source text for Eikon: Further company coverage:

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