Australia's Nine Entertainment rises on CoStar buyout of Domain

Shares of Nine Entertainment NEC.AX soar as much as 8.1% to A$1.610, their highest levels since March 26

Stock logs its biggest intraday pct gain since April 10

NEC among top gainer in the ASX 200 benchmark

The media firm intends to vote in favour of U.S. firm CoStar's CSGP.O buyout of Domain Holdings DHG.AX, in which Nine Entertainment holds a 60% stake

CoStar to buy remaining shares in Domain it does not already own at A$4.43/shr, a 4.2% premium to DHG's last close

Nine expects to receive A$1.4 billion in cash proceeds, which it intends to distribute as fully franked special dividend

Special dividend could be in range of 47-49 Au cents per share

YTD, NEC up 28.3%