Vail Resorts Acquires Peak Resorts
On July 22, Vail Resorts, Inc. (MTN) announced that it reached an agreement to acquire Peak Resorts, Inc. (SKIS). Vail Resorts will pay $11 per share to purchase 100% of the outstanding shares in Peak Resorts. Vail Resorts will add 17 ski areas to its world-class networks through the acquisition.
Sonal issued an alert to subscribers at 7:00 am. Vail Resorts opened at $227.19 following the announcement. The stock price pushed higher throughout the event day, and the gains continued over the next four trading sessions. The stock closed at $248.72 on July 26 for a 5-day gain of 9.48%.
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