Federal Court of Australia has given orders to approve the scheme of arrangement under which Wesfarmers Lithium Pty Ltd, a wholly owned subsidiary of Wesfarmers Limited (ASX: WES), will acquire all the issued ordinary shares in Kidman (ASX: KDR).
- Kidman expects to lodge a copy of the Court’s order with the Australian Securities and Investment Commission on 13th September 2019, the date at which the scheme will become legally effective.
- Kidman will apply for its shares to be suspended from trading on the ASX from the close of trading on 13th September 2019.
At 12:06 PM AEST, KDR’s stock was trading at A$1.897, up 0.106% from its previous close.
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