As previously announced, John Bean Technologies Corporation ("JBT") has initiated a voluntary takeover offer to acquire all issued and outstanding shares of Marel hf. ("Marel"). The takeover offer will expire on the earliest date to occur on either 11 November 2024, or three weeks after the date on which all required regulatory clearances are secured, unless the offer period will be extended.
JBT and Marel have started pre-integration planning for the proposed combination of the two companies and today JBT has filed information on the proposed JBT Marel organizational structure, accessible here. The proposed organizational changes are contingent upon the combination of the two companies and would only become effective after closing of the transaction.
The transaction is subject to customary conditions including regulatory approvals and approval by Marel shareholders. The transaction is expected to close by the end of 2024.
Shareholder questions on offer process
Marel shareholders who hold Marel Shares listed on Nasdaq Iceland can contact Arion banki hf. with any queries related to the acceptance and/or settlement of the offer by email at assistance.marel2024@arionbanki.is.
Marel shareholders who hold Marel Shares listed on Euronext Amsterdam should contact their financial intermediary to obtain information on the acceptance and/or settlement process. Financial intermediaries and Marel shareholders can contact ABN AMRO Bank N.V. with any queries by email at corporate.broking@nl.abnamro.com.
Marel has engaged J.P. Morgan as financial advisor, Rabobank as provider of independent fairness opinion to the Board, and Baker McKenzie (US), BBA/Fjeldco (Iceland) and Osborne Clarke (Netherlands) for legal advice.
Further information:
Investor Relations
- Marel - Tinna Molphy
- Email: ir@marel.com
- Tel: +354 853 8603
Media Relations
- FTI - Alex Le May and Matthew O'Keeffe
- Email: Marel@fticonsulting.com
- Tel: +44 (0)20 3727 1340
About Marel
Marel (NASDAQ: MAREL, AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software and services to the food processing industry. Established in 1983, we have around 7,300 employees and a presence in more than 30 countries, servicing customer accounts in over 140 countries. We are listed on Nasdaq Iceland and Euronext Amsterdam, and in 2023 we delivered EUR 1.7 billion in revenues, with 46% coming from recurring aftermarket services and software. We invest 5-6% of revenues in innovation every year, setting new benchmarks in processing poultry, meat, fish as well as pet food, aqua feed and plant protein. Utilizing cutting edge technologies such as robotics, data-driven solutions, automation and software, we empower our customers to increase yield, ensure food safety, improve sustainability and ultimately create value for their businesses. For further information, please visit marel.com/ir.
