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American Skiing Company stops trading at midnight
 Poster: A snowHead
Poster: A snowHead

The dissolution of the American Skiing Company will become effective as of 12:01am on September 13, 2007. On Monday, the Company filed a Certificate of Dissolution with the Delaware Secretary of State in accordance with its previously announced plan of complete dissolution and liquidation. Trading of the Company’s stock on the OTC Bulletin Board will also cease after September 12, 2007....See: http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20070911006162&newsLang=en

Meanwhile, Vail Resorts has upped its offer for The Canyons, the Utah ski resort it wants to buy. In a letter filed with the Securities and Exchange Commission on Monday, Vail Resorts Chief Executive Officer Rob Katz offered the promise of more cash to the American Skiing Company, the current owner of The Canyons.

In the offer, Vail Resorts would chip in 30% of the net cash flow it makes off the real estate it would get in the deal. That could mean $650 million through 2020 for American Skiing Company.

See: http://www.summitdaily.com/article/20070911/NEWS/109110071
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