Intrawest Shareholders OK Takeover by Fortress

From Reuters

Intrawest Corp. will continue to expand, the ski resort operator’s chief executive said, and the company’s takeover by Fortress Investment Group should make that process easier.

Shareholders voted 99.9% in favor of the $2.8-billion offer by New York-based Fortress, which will privatize Vancouver, Canada-based Intrawest. The company has interests in resorts including Mammoth Mountain in the Eastern Sierra and Whistler Blackcomb in British Columbia, Canada.

“Fortress has indicated that they want to see the company expand,” CEO Joe Houssain said.