News - GCE Sold for $1 bil.Breaking NewsGrande Cache Coal Corporation Reaches Definitive Agreement to Be Acquired by Winsway Coking Coal Holdings Limited and Marubeni Corporation08:56 EDT Monday, October 31, 2011CALGARY, ALBERTA--(Marketwire - Oct. 31, 2011) - Grande Cache Coal Corporation (TSX:GCE) ("Grande Cache Coal" or the "Corporation") is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") with 1629835 Alberta Ltd. ("AcquisitionCo") for the purchase of all of the issued and outstanding common shares of the Corporation (the "Common Shares") at a cash price of C$10.00 per Common Share, for a total cash consideration of approximately C$1.0 billion. The transaction is to be completed by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). The consideration offered for the Common Shares pursuant to the Arrangement represents a 70% premium over the closing price of the Common Shares on the Toronto Stock Exchange on October 28, 2011 and a 112% premium over the 20-day volume weighted average trading price of the Common Shares on the Toronto Stock Exchange up to and including October 28, 2011.