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Neo Material is a Canada-based a producer, processor, and developer of neodymium-iron-boron magnetic powders, rare earths, and zirconium-based engineered materials.
Announcement (February 9, 2009):
An indirect wholly-owned subsidiary of Pala Investments intends to make a premium partial offer of CAD1.40 ($1.15) per share in cash to acquire up to a maximum of 23 million outstanding common shares of Neo Material.
The offer represents a premium of 27% over the closing price of the Neo Material common shares on the TSX as on February 6, 2009. It also represents a premium of approximately 24% over the volume weighted average trading price of Neo Material shares on the TSX last 20 trading days.
Deal Value (US$ Million) 32.2 Deal Type Private Equity Sub-Category None Deal Status Terminated: 2009-05-15
Deal Participants
Target (Company) Neo Material Technologies, Inc.
Bid Premium ($ per share) 27 % Acquisition 19.8%
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