Wesfarmers (ASX:WES) today announced that it has entered into a Process and Exclusivity Deed with Kidman Resources (ASX:KDR, Kidman) in relation to its proposal to acquire 100 per cent of the outstanding shares in Kidman for $1.90 cash per share (the Proposal) by way of a scheme of arrangement (Proposed Scheme). The price represents a premium of 47.3 per cent to the last closing price on 1 May 2019 and 44.4 per cent to the 60-day volume weighted average price and corresponds to a transaction value of approximately $776 million.
AVZ Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
