The Scoop
Activist investor Oasis Capital Management has nominated a slate of directors at Vail Resorts and is preparing to launch a proxy fight, according to people familiar with the matter.
Neither the names of the nominees nor how many seats Oasis sought could be learned, but to gain full control of the company’s board would require it to nominate five directors.
Spokespeople for Vail and Oasis did not respond to requests for comment. Semafor earlier this year reported that Oasis was likely to pursue a proxy fight and that Vail Resorts was working with advisers to help it fend off a potential activist.
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The accelerating pace of extreme weather has made snowfall on Vail’s properties less predictable. Economic pressures have pushed consumers to pull back on spending. And Vail’s unionized workers have been fighting with management over working conditions.
Looming over it all is billionaire Matthew Prince, a Park City resident who had expressed frustrations with how Vail Resorts has operated its Park City property, blaming Vail CEO Rob Katz for the company’s financial troubles.
Prince did not respond to a request for comment.