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If you purchased shares of Intrawest Resorts Holdings Inc (NYSE:SNOW) and currently hold any of those NYSE:SNOW shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
April 14, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Intrawest Resorts Holdings Inc (NYSE:SNOW), was announced concerning whether the takeover of Intrawest Resorts Holdings Inc. by affiliates of the Aspen Skiing Company, L.L.C. and KSL Capital Partners, LLC for $23.75 per share is unfair to NYSE:SNOW stockholders.
The investigation by a law firm concerns whether certain officers and directors of Intrawest Resorts Holdings Inc breached their fiduciary duties owed to NYSE:SNOW investors in connection with the proposed acquisition.
On April 10, 2017, Intrawest Resorts Holdings Inc (NYSE:SNOW) announced that it has entered into an agreement to be acquired by a newly-formed entity controlled by affiliates of the Aspen Skiing Company, L.L.C. and KSL Capital Partners, LLC. Under the terms of the merger agreement, Intrawest Resorts Holdings Inc (NYSE:SNOW) stockholders will receive $23.75 in cash for each share of Intrawest common stock, representing a total valuation of approximately $1.5 billion including debt obligations to be assumed or refinanced net of cash at closing.
However, given that at least one analyst has set the high target price for NYSE:SNOW shares at $27.00 per share, the investigation concerns whether the offer is unfair to NYSE:SNOW stockholders. More specifically, the investigation concerns whether the Intrawest Resorts Holdings Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Intrawest Resorts Holdings Inc reported that its Total Revenue declined from $587.59 million for the 12 months period that ended on June 30, 2015 to $570.91 million for the 12 months period that ended on June 30, 2016 and that its Net Loss of $6.92 million for the 12 months period that ended on June 30, 2015 turned into a Net Income of $40.87 million for the 12 months period that ended on June 30, 2016.
