JBT Satisfies All Conditions To Takeover Offer For Marel Shares - Quick Facts

John Bean Technologies

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(RTTNews) - JBT Corporation (JBT) announced that its voluntary takeover offer to acquire all issued and outstanding shares of Marel hf. expired on December 20, 2024. JBT said it has now satisfied all conditions to the offer, including the minimum acceptance condition with at least 90 percent of all issued and outstanding shares of Marel having been validly tendered in the offer. The settlement of the transaction is expected to occur on January 2, 2025. It is JBT's intention to acquire all of the issued and outstanding Marel shares not yet validly tendered and to apply for the Marel shares to be delisted from Nasdaq Iceland and Euronext Amsterdam as soon as permitted.

In conjunction with the combination of JBT and Marel, JBT will change its corporate name and stock ticker symbol to JBT Marel Corporation and JBTM respectively, which is expected to occur on or about January 2, 2025. JBTM shares will remain listed on the NYSE with a secondary listing on Nasdaq Iceland. Shares of JBTM are expected to commence trading on both NYSE and Nasdaq Iceland on January 3, 2025.