February 27, 2019 / 3:37 AM / 8 months ago

BUZZ-Australia's Ruralco hits over 10-year high on takeover bid from Canada's Nutrien

** Shares of rural services firm Ruralco Holdings Ltd surges as much as 47.1 pct to A$4.50, their highest since May 2008

** Stock posts its biggest intraday pct gain in more than 18 years

** Co announces it received a A$469 mln ($336.6 mln) takeover bid form Canadian fertilizer maker Nutrien Ltd

** Co says Nutrient offered A$4.40 per Ruralco share in cash, a 44 percent premium to its last close

** Ruralco says board unanimously recommends the transaction in the absence of a superior deal

** More than 1.5 mln shares change hands, compared with the 30-day average volume of 164,380 shares

** Stock is the biggest percentage gainer on the ASX All Ordinaries index ($1 = 1.3933 Australian dollars)

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