Kidman/Wesfarmers talks going for 'some time'

The chairperson of takeover target Kidman Resources, John Pizzey, on Thursday revealed to shareholders that the company had been in discussions with suitor Wesfarmers ‘for some time’ regarding a possible takeover offer.

Wesfarmers earlier this month launched a non-binding and conditional A$776-million cash offer for Kidman, offering shareholders A$1.90 a share in cash for their interest in the company.