JBT Corporation's Strategic Acquisition of Marel hf.: Key Webcast and Shareholder Engagement
- JBT Corporation is hosting a webcast with Marel hf. on December 11, 2024, to engage shareholders before the takeover offer expires.
- JBT aims to acquire Marel by securing 90% shareholder acceptance, targeting closure by January 3, 2025.
- The acquisition will enhance JBT's market position and expand its portfolio in the food and beverage technology sector.
JBT Corporation Advances Strategic Acquisition of Marel hf.
JBT Corporation, a leading global provider of technology solutions in the food and beverage sector, prepares for a crucial webcast in collaboration with Marel hf. on December 11, 2024. This event, set to take place in Iceland, is part of JBT's strategic initiative to engage with Marel shareholders ahead of the expiration of its voluntary takeover offer on December 20, 2024. The webcast will include a fireside chat, live-streamed on the websites of JBT, Marel, and Arion Bank, thereby ensuring broader access to key discussions surrounding the acquisition.
The proposed acquisition is contingent upon JBT receiving acceptance from at least 90% of Marel's shareholders. If successful, JBT aims to finalize the transaction within five Icelandic business days following the offer's expiration, targeting a closure by January 3, 2025. This acquisition represents a significant step for JBT, as it seeks to enhance its market position and expand its portfolio of advanced products and services in the food and beverage industry. Marel shareholders are encouraged to tender their shares before the approaching deadline, highlighting the urgency and importance of their participation in this strategic endeavor.
JBT's approach to the acquisition is backed by a robust advisory team, with Goldman Sachs Co LLC serving as the financial advisor, while Kirkland & Ellis LLP and LEX provide legal counsel. Arion Bank is designated as the lead manager for the Icelandic offer, ensuring a structured and compliant process throughout the acquisition. With approximately 5,100 employees operating in over 25 countries, JBT generates nearly half of its annual revenue from recurring services and parts, emphasizing its commitment to delivering innovative and sophisticated solutions in the food and beverage technology landscape.
In addition to the webcast, JBT also plans an in-person open house in Iceland, specifically for Marel shareholders, though attendance is limited and requires prior registration. This dual approach of online and in-person engagement underscores JBT's dedication to transparency and communication with stakeholders during this pivotal moment in the company's growth trajectory.
As JBT Corporation continues to solidify its position within the food and beverage industry, the outcome of the Marel acquisition has the potential to reshape market dynamics and expand the company's capabilities in delivering advanced technology solutions to its clients. For more information on JBT Corporation and its initiatives, stakeholders can visit their website at www.jbtc.com.