May 1, 2019 / 10:39 PM / 2 months ago

Australia's Kidman Resources receives takeover proposal from Wesfarmers

May 2 (Reuters) - Australian miner Kidman Resources Ltd said on Thursday it received a takeover proposal from Wesfarmers Ltd that values the company 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. ($1 = 1.4251 Australian dollars) (Reporting by Rashmi Ashok in Bengaluru; Editing by Sriraj Kalluvila)

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