May 23 (Reuters) - Australian lithium miner Kidman Resources Ltd KDR.AX on Thursday agreed to be acquired by retail conglomerate Wesfarmers Ltd WES.AX for A$776 million ($534 million).
The two parties have entered into a scheme implementation deed after Wesfarmers completed its exclusive period of due diligence, Kidman Resources said in a statement.
Wesfarmers lodged a A$1.90 per share bid for the lithium miner on May 2.
($1 = 1.4537 Australian dollars)
(Reporting by Aditya Soni in Bengaluru; editing by Richard Pullin)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.