It was July 22nd when Vail announced it had reached an agreement to purchase Peak Resorts for $11.00 a share or a total of $264 million. Peak Resorts, traded publicly under the symbol SKIS, closed at $5.19 on July 19. Hard to say “no” when somebody offers you more than double your stock price. Vail will also assume or refinance Peak’s debt, which totaled around $230 million on April 30.
Vail operates 20 mountain resorts in the west (I guess Australia is “west.”). Peak has 17 ski areas in the northeastern U.S. Vail also has 240 retail locations.