September 5, 2019 / 2:48 AM / 15 days ago

Shareholders of Australia's Kidman Resources approve Wesfarmers takeover

Sept 5 (Reuters) - Kidman Resources Ltd said on Thursday its shareholders voted in favour of conglomerate Wesfarmers Ltd purchase of the lithium miner for about A$776 million ($524.11 million).

At a meeting, a majority of Kidman shareholders voted in favour of the scheme of arrangement and the deal is now subject to court approval on Sept. 12, the miner said in a statement.

Wesfarmers had offered to buy Kidman in May this year - a move that would give the retail conglomerate entry into the booming electric vehicle market.

$1 = 1.4806 Australian dollars Reporting by Rashmi Ashok in Bengaluru; editing by Christian Schmollinger

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