Why Vail Resorts Stock Popped 10.5% in July
Shares of Vail Resorts (NYSE: MTN) climbed 10.5% in July, according to data from S&P Global Market Intelligence. Virtually all of last month's jump came after the mountain resort operator revealed it has agreed to acquire fellow resort leader Peak Resorts (NASDAQ: SKIS) for $11 per share -- or a total purchase price of roughly $264 million -- through a combination of cash and debt.
For perspective, as it stands, Vail Resorts operates 17 mountain resorts and three urban ski areas. But the purchase of Peak Resorts will bring 17 additional ski resorts under Vail's wing, primarily located in the Northeast, Mid-Atlantic, and Midwest regions.
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Source Fool.com
