PHP module compilation error – libtool: Version mismatch error

If you happen to get this error trying to build your own a PHP module (probably, because you need a newer version than the included one in the disto you use and because it is fairly easy):

libtool: Version mismatch error.  This is libtool 2.4.6, but the
libtool: definition of this LT_INIT comes from an older release.
libtool: You should recreate aclocal.m4 with macros from libtool 2.4.6
libtool: and run autoconf again.
make: *** [Makefile:181: geoip.lo] Error 63

Here is what you can do to recreate the configuration files for the build process:

libtoolize --force

This sequence of commands (probably without the phpize, because it is PHP specific) could save you in similar situations with similar error in other source code not related to PHP.
Keep on reading!