Aron leaves, sale rumors start | SummitDaily.com
YOUR AD HERE »

Aron leaves, sale rumors start

Alex Millereagle county correspondent

VAIL – With the announcement Monday of Adam Aron’s departure, talk of an imminent sale of Vail Resorts heated up. The name of one potential buyer making the rounds was Mike Shannon, a former Vail Associates executive who recently sold his interest in KSL Resorts for a reported $1.6 billion.Vail Resorts’ market capitalization – or total stock value – is about $1.2 billion.”We don’t comment on things like that,” Aron said Monday, after a pause. “We never have.”Will Marks, an investment analyst with JMP Securities who follows Vail Resorts, said he had not heard any of the rumors, either.In the summer of 2004, the Vail Resorts board was rumored to have received competing offers from Texas Pacific Group and Henry Kravis, a principal in New York investment firm Kohlberg Kravis Roberts. Monday, Vail Resorts stock dropped almost 4 percent, to $31.22, with a sales volume of 681,400 – about 163 percent above average. The stock has dropped 19 percent since its peak trading price Dec. 2, 2005 of $38.45.


Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.

For tax deductible donations, click here.
 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User