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Kidman backs Wesfarmers takeover proposal

Kidman's board plans to back the offer in the absence of a superior proposal

Kristie Batten
Wesfarmers managing director Rob Scott

Wesfarmers managing director Rob Scott

The Perth-based retail and chemicals conglomerate is proposing to offer $1.90 per Kidman shares, a 47% premium to yesterday's closing price and a 44.4% premium to the 60-day volume-weighted average price....

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