Peak Resorts Acquired by Vail 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.

 

Jet Equities issued an alert to subscribers at 7:00 am. Peak Resorts had been trading at $5.10 following its close on the previous day. After the announcement, the stock price jumped to $10.80 and closed at $10.85 later that day for a gain of 113%.

Vail Resorts also increased on the acquisition news. The stock price opened at $227.19 following the announcement. Vail Resorts 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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