KDR 0.00% $1.90 kidman resources limited

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

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    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)

 
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