Wesfarmers (ASX:WES) is looking to takeover lithium miner Kidman Resources for around $776 million.
The offer of $1.90 per share represents a premium of 47.3 percent to Kidman’s last closing price.
The global uptake of electric vehicles provides opportunities for lithium.
Kidman’s 50 per cent ownership of the Mt Holland lithium project includes a large-scale, long-life & high-grade lithium deposit.
Shares in Wesfarmers (ASX:WES) closed 0.61 per cent lower at $35.79 yesterday.