Press Release: Intrawest : Featured Company News - Intrawest Announces HSR Clearance for Its Merger Transaction

Research Desk Line-up: Carnival Post Earnings CoverageLONDON, UK / ACCESSWIRE / June 27, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Intrawest Resorts Holdings, Inc. (NYSE: SNOW), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SNOW. The leading North American mountain resort and adventure Company announced on June 24, 2017, that the given waiting period for its acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) has expired. This announcement concerns the acquisition of Intrawest that was put forward during May 2017, by a newly-formed establishment, which will be controlled by Aspen Skiing Company and KSL Capital Partners. For immediate access to our complimentary reports, including today's coverage, register for free now at:http://protraderdaily.com/register/Discover more of our free reports coverage from other companies within the General Entertainment industry. Pro-TD has currently selected Carnival PLC (NYSE: CUK) for due-diligence and potential coverage as the Company reported on June 22, 2017, its financial results for Q2. Tune in to our site to register for a free membership, and be among the early birds that get our report on Carnival when we publish it.At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SNOW; also brushing on CUK. Go directly to your stock of interest and access today's free coverage at:http://protraderdaily.com/optin/?symbol=SNOWhttp://protraderdaily.com/optin/?symbol=CUKThe HSR ActUnder the Hart-Scott-Rodino (HSR) Act, companies or parties moving towards any large mergers and acquisitions should file a premerger notification for the government to review. The expiration of the waiting period denotes that the companies are free to close their deal. The companies can even ask for more information after which a second request is sent. This can extend the waiting period and extend the timeline for the execution of the agreement.This announcement follows the previously announced definitive agreement under which Aspen Skiing Company and KSL Capital Partners acquired all the outstanding shares of Intrawest. Additionally, one of the conditions for the completion of the merger related to the HSR Act has been satisfied.This offer is scheduled to close by the end of Q3 FY17, unless earlier extended or terminated.Intrawest's AcquisitionOn October 04, 2017, Intrawest announced that it has entered into a definitive agreement with Aspen Skiing Company and KSL Capital Partners. Under this acquisition, Aspen and KSL will provide Intrawest's shareholders $23.75 for each share of its common stock representing a 40% premium over the last closing price on January 12, 2017. The total purchase price for the agreement was about $1.5 billion and includes all debt obligations.This agreement is expected to deliver long-term value to the shareholders and help the Company elevate the scale of its business, to accelerate Intrawest's future plans and bring value to the Company. The deal is set to close in September 2017 and is subject to customary closing conditions.Intrawest Growth PortfolioOn May 09, 2017, Intrawest announced that it plans to sell all of its outstanding shares. The Company currently holds a portfolio of six resorts in Canada, Colorado, Vermont, and West Virginia, with about 1,113 acres of land and 8,000 skiable acres, the 12-lodge CMH and a real estate business, which will be divested under the transaction. Post this acquisition, out of the $1.7 billion from KSL and Aspen Skiing, $982 million will be given to the Intrawest's shareholders and the remaining will be used to refinance its debt and cover expenses related to the merger.Intrawest would have to pay KSL and Aspen Skiing a price of $28.4 million if the agreement fails to materialize from the Company's end. Between the years 2013 and 2017, Intrawest has re-invested 8% of its revenues and was once the ruling entity of the resort world and the world's largest ski area operator, but since last fall it has been on a block. Intrawest owns a collection of extraordinary properties in phenomenal locations. This includes Intrawest's mountain resorts which are geographically diversified across North America's major ski regions, including the Eastern United States, the Rocky Mountains, the Pacific Southwest, and Canada.Last Close Stock ReviewAt the closing bell, on Monday, June 26, 2017, Intrawest Resorts' stock marginally climbed 0.38%, ending the trading session at $23.74. A total volume of 657.18 thousand shares have exchanged hands, which was higher than the 3-month average volume of 402.17 thousand shares. The Company's stock price skyrocketed 0.51% in the last one month, 29.30% in the past six months, and 92.85% in the previous twelve months. Moreover, the stock soared 33.00% since the start of the year. The stock is trading at a PE ratio of 32.74 and currently has a market cap of $945.80 million.Pro-Trader Daily:Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. 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