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Stock impact report

Wesfarmers offers to buy Australian lithium miner Kidman Resources for A$776 million [Reuters]

Sociedad Quimica y Minera S.A. (SQM) 
Last sociedad quimica y minera s.a. earnings: 3/2 09:13 pm Check Earnings Report
US:NYSE Investor Relations: ir.sqm.com
Company Research Source: Reuters
Wesfarmers offers to buy Australian lithium miner Kidman Resources for A$776 million - Reuters 2 Min Read (Reuters) - Australian lithium miner Kidman Resources Ltd said on Thursday it received a takeover offer from conglomerate Wesfarmers Ltd in a deal valued at about A$776 million ($544 million). The offer of A$1.90 per share represents a premium of 47.3 percent to Kidman’s last closing price. Kidman said its board decided that the proposal was in the best interests of shareholders and would engage further with Wesfarmers on an exclusive basis. Shares under the control of the directors and management of Kidman, which constitutes shareholders holding about 17 percent of the shares, intend to vote in favor of the proposal, Kidman said in a statement. “The acquisition of Kidman provides an opportunity to invest in and develop a large-scale, long-life and high-grade lithium hydroxide project in Western Australia,” Wesfarmers Managing Director Rob Scott said in a separate statement. Wesfa Show less Read more
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