Peak resort Inc. [NASDAQ: SKIS] a leading holder of individually branded US Ski resort, declared Monday morning that Vail resort Inc. [NYSE: MTN] acquired Peak resort. Vail resort Inc. acquired 100% outstanding stocks of Peak resort Inc for $11.00 per share. Vail resorts plan to take over 17 U.S Ski areas ranging from the Northeast to the Midwest by acquiring Peak resort for $264 million.
Peak resort shares were up $5.75 during trading on Monday and closed at $10.85. The current value of Peak resort share is $10.85. During the last trading session, SKIS shares went up by $112.5%. The main reason for the bullish momentum in the stock price is because Vail Resort acquired Peak resort for $11.0 per share.
SKIS had trading volume of roughly $5,276,236 yesterday compared to its average volume of $25,611. SKIS 50-day moving average is about $4.43. Peak resort had a day low range of $10.82 & day high range of $10.89. SKIS had 52 weeks low and high range of about $3.75 to $10.89 respectively. The firm has a total market capitalization of roughly $164.54 million and its outstanding shares are about $15.16 million.
SKIS says the deal is expected to close this fall if shareholders and regulators approve it. The ski areas are near 10 metropolitan areas: Cleveland; Columbus, Ohio; Baltimore; Boston; Kansas City, Missouri; Louisville, Kentucky; New York; Philadelphia; St. Louis; and Washington.
Peak resort is an owner and operator of ski resorts in the US. The company’s resort offers various services and amenities like skiing, terrain parks, snowboarding, feasting, tubing, lodging, apparatus rental, and other summer activities. Its ski properties are located throughout the Midwest, Northeast and Southeast US. Peak Resorts, Inc. is a head office in Wildwood, Missouri.