Court approves Wesfarmers/Kidman deal

The Federal Court of Australia has approved ASX-listed Wesfarmer’s A$776-million takeover of lithium developer Kidman Resources.

Wesfarmers in May this year launched a A$1.90 a share cash offer for the lithium junior, which holds a 50% interest in the Mt Holland lithium project, in Western Australia, which is jointly owned by the Sociedad Quimica y Minera de Chile SA (SQM).