September 5, 2019 / 2:48 AM / a month 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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below