Whistler BlackcombA view from Whistler Blackcomb. REUTERS/Andy Clark

The mountain resort operator Vail Resorts is buying Canada’s Whistler Blackcomb in a deal worth about 1.4 billion Canadian dollars ($1.1 billion).

Vail will acquire 100% of Whistler Blackcomb’s stock, paying shareholders 17.50 Canadian dollars in cash and 0.0975 of Vail Resorts common stock, with a total value of about 36 Canadian dollars per share.

“This relationship will bring greater resources to support our current operations and our ambitious growth plans, including the Renaissance project, the most exciting and transformative investment in Whistler Blackcomb’s history,” Dave Brownlie,Whistler Blackcomb’s CEO, said in a statement.

He will continue to lead Whistler Blackcomb as chief operating officer.

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