Wesfarmers looking to takeover Kidman Resources

Company News

by Rachael Jones

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.