BUZZ-Australia's <a href="https://laohu8.com/S/RCTUF">Reef Casino Trust</a> rises on rival takeover bid with higher payout** Shares of Reef Casino Trust RCT.AX rise as much as 6.1% to A$3.630, their highest level since April 1
** The trust, which manages The Reef Hotel Casino, gets unsolicited and non-binding proposal to acquire all co shares from MGGM Cairns No1 for A$184 million ($120.74 million) in aggregate
** Co received similar offer from Iris Cairns Property for all of the co shares for A$177 million in aggregate on July 14
** Says directors maintain recommendation of the Iris Offer
** About 83,287 shares traded, 19x the 30-day average
** YTD, stock up 24.1%, including the day's moves
($1 = 1.5239 Australian dollars)
(Reporting by Ananya Verma in Bengaluru)
((ananya.verma@thomsonreuters.com;))
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