Times Colonist

$1 billion for coal company


TORONTO — Canadian coal miner Grande Cache Coal Corp. has agreed to a takeover bid from two Asian companies worth about $1 billion. The deal, worth $10 a share in cash, is a 70 per cent premium over Grande Cache’s closing price Friday. The buyers are Hong Kong-based Winsway Coking Coa and Japanese firm Marubeni Corp.

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