Neo Shareholders Approve Takeover By Molycorp

IBTimes reported that shareholders in Neo Materials (TSX:NEM) voted in favor of combining with Molycorp (NYSE:MCP).

As quoted in the market news:

Shareholders of Neo Material Technologies Inc., under the terms of the acquisition agreement, have the option to either receive cash, shares of Molycorp Inc. common stock, and/or shares of a Canadian Molycorp Inc. subsidiary that are exchangeable into shares of Molycorp Inc. common stock.

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