{"id":1117633,"date":"2019-05-23T21:14:53","date_gmt":"2019-05-23T21:14:53","guid":{"rendered":"http:\/\/www.mining.com\/?p=989123"},"modified":"2019-05-23T21:14:53","modified_gmt":"2019-05-23T21:14:53","slug":"kidman-resources-accepts-wesfarmers-534m-takeover-bid","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1117633","title":{"rendered":"Kidman Resources accepts Wesfarmers $534m takeover bid"},"content":{"rendered":"

Australian lithium miner Wesfarmers (<\/span>ASX:WES<\/span>) announced on Thursday<\/a>\u00a0that it has entered into a Scheme Implementation Deed (SID) with Kidman Resources Limited (<\/span>ASX:KDR<\/span>), confirming the terms to acquire 100% of Kidman’s outstanding shares.<\/span>\u00a0<\/span><\/p>\n

The agreed price of $1.90 per share represents a premium of 47.3% to the last closing price on 1 May 2019, prior to the announcement of Wesfarmers\u2019 proposal to acquire Kidman for A$776 million ($534 million).\u00a0<\/span>\u00a0<\/span><\/p>\n

The Kidman Board has unanimously recommended that Kidman shareholders vote in\u00a0<\/span>favour<\/span>\u00a0of the SID.<\/span>\u00a0<\/span><\/p>\n

Wesfarmers said\u00a0<\/span>a\u00a0number of<\/span>\u00a0Kidman\u2019s major shareholders, board members and key management, which together own approximately 17% of Kidman\u2019s outstanding shares, have indicated their support of the deal and have entered into voting agreements with the miner.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThis is an important milestone in advancing a transaction that provides Wesfarmers with an attractive investment and delivers Kidman shareholders with a compelling premium and certain cash return,\u201d\u00a0<\/span>Wesfarmers<\/span>\u2019<\/span>\u00a0Managing Director Rob Scott\u00a0<\/span>said in the media release.\u00a0<\/span>\u00a0<\/span><\/p>\n

Wesfarmers is working with Kidman and the Mt Holland lithium project joint venture company, Covalent Lithium, towards developing a large-scale, long-life and high-grade lithium hydroxide project in Western Australia.<\/span>\u00a0<\/span><\/p>\n

The post Kidman Resources accepts Wesfarmers $534m takeover bid<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wesfarmers is working with Kidman towards developing a large-scale, long-life and high-grade lithium hydroxide project in Western Australia. <\/p>\n

The post Kidman Resources accepts Wesfarmers $534m takeover bid<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2736,404,369,2737],"tags":[15,288],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117633"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1117633"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117633\/revisions"}],"predecessor-version":[{"id":1117634,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117633\/revisions\/1117634"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1117633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1117633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1117633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}