The US Federal Trade Commission and Department of Justice have not filed procedures related to antitrust concerns in the proposed deal by Aspen Skiing and KSL Capital Partners to buy California’s Mammoth Mountain and Intrawest’s six ski resorts, including Colorado’s Steamboat and Winter Park resorts.
Intrawest recently reported that the waiting period required under federal antitrust legislation had expired. That legislation, the Hart-Scott-Rodino Antitrust Improvement Act of 1976, prohibits mergers and acquisitions until federal agencies examine the deal for potential antitrust violations and establishes a time limit for said examination.
The lack of antitrust issues clears a hurdle for this blockbuster deal certain to generate increased season-pass sales competition in the US ski resort industry, which is dominated by Colorado’s Vail Resorts and its popular Epic Pass.
Roaring Fork Valley ski area operator, Aspen Skiing, and Denver private equity firm, KSL Capital Partners, joined earlier this year in a US$1.7 billion blockbuster bid for Intrawest’s six resorts and its 12-lodge CMH helicopter skiing operation. The partnership also announced plans to buy Mammoth Mountain and three other smaller southern California ski areas for an undisclosed price.
Full Content: Intrawest
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