American Ski Co. set to dissolve; VR sweetens offer

American Skiing Company officials announced on Monday that the company has filed a certificate of dissolution with the Delaware Secretary of State in accordance with its previously announced plan of complete dissolution and liquidation. The dissolution will become effective as of 12:01 a.m. on Thursday. Trading of the company’s stock on the OTC Bulletin Board will also cease after Monday.
AMERICAN SKIING COMPANY officials announced on Monday that the company has filed a certificate of dissolution with the Delaware Secretary of State in accordance with its previously announced plan of complete dissolution and liquidation. The dissolution will become effective as of 12:01 a.m. on Thursday. Trading of the company’s stock on the OTC Bulletin Board will also cease after Monday.
    American Skiing Company’s final remaining asset is The Canyons Resort in Utah, although at one time it held a portfolio of ski resorts across the United States, including resorts in Maine, Colorado, California and Nevada.
     Vail Resorts on Tuesday reportedly increased its $110-million offer for The Canyons by adding 30 percent of the net cash flow through 2020 from development of the real estate rights to sweeten the pot, an amount Vail Resorts says could be $650 million, based on total profits of $2 billion to $2.5 billion.
    Vail is trying to overtake a rival $100 million offer from an affiliate of Toronto-based Talisker Corporation.

    — The Associated Press contributed to the report