News: KDR Australia's Kidman Resources agrees to $534 mln Wesfarmers takeover

May 23 (Reuters) - Australian lithium miner Kidman Resources Ltd (KDR) on Thursday agreed to be acquired by retail conglomerate Wesfarmers Ltd (WES) for A$776 million ($534 million).

The two parties have entered into a scheme implementation deed after Wesfarmers completed its exclusive period of due diligence, Kidman Resources said in a statement.

Wesfarmers lodged a A$1.90 per share bid for the lithium miner on May 2.

($1 = 1.4537 Australian dollars)