Vail Resorts Wins OK to Buy 2 Ski Resorts

Vail Resorts Inc. won federal antitrust approval to buy two of the three ski resorts it planned to buy from Ralcorp Holdings Inc., clearing the way for creation of the world’s largest ski resort company. Vail Resorts, in a settlement with the Justice Department, will be able to buy Ralcorp’s two largest resorts--Breckenridge and Keystone--as long as it sells Arapahoe Basin to settle antitrust concerns. Arapahoe is the smallest of the three resorts, located about 100 miles from Denver. The must sell Arapahoe before it can complete the $310-million acquisition. Ralcorp shares were unchanged at $21.375 on the New York Stock Exchange.C The Justice Department has been scrutinizing the transaction, which gives Vail Resorts control of five resorts within a 40-mile radius in Colorado. Vail Resorts expects to go public after the transaction is completed.