February 27, 2019 / 2:02 AM / 9 months ago

Australia's Ruralco gets $337 mln takeover offer

Feb 27 (Reuters) - Australian rural services firm Ruralco Holdings Ltd said on Wednesday it has received a A$469 million ($337 million)all-cash takeover offer from Canadian fertilizer maker Nutrien Ltd.

Ruralco’s board has unanimously recommended the transaction in the absence of a superior proposal, the company said in a statement.

Nutrien has offered A$4.40 a share for the company, representing a premium of about 44 percent to Ruralco’s last close.

$1 = 1.3922 Australian dollars Reporting by Niyati Shetty in Bengaluru; editing by Richard Pullin

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