© Reuters.
(Reuters) -Vacation property operator Hilton Grand Vacations (NYSE:) said on Monday it would buy peer Bluegreen Vacations (NYSE:) in a $1.5 billion deal.
Under the terms of the agreement, shareholders of Bluegreen Vacations will receive $75 in cash for each share, more than double the closing price on Friday.
Hilton Grand also said it has signed an exclusive 10-year marketing agreement with outdoor retailer Bass Pro Shops.