Intrawest approves buyout by equity firm- Rocky Mountain News article
VANCOUVER, British Columbia - Shareholders of resort and travel company Intrawest Corp. voted Tuesday in favor of a $1.8 billion takeover offer from the U.S. private-equity firm Fortress Investment Group LLC.Under the deal approved by a 99 percent favorable vote, Fortress agreed to pay $35 per share in cash for the company, which owns Copper Mountain and operates Winter Park ski resort in Colorado.
Fortress also is assuming $950 million in debt in the deal.
The agreement required approval by two-thirds of its shareholders.
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