JBT proposes €3.40/share acquisition of Marel hf, 46% premium, ~€3.4B EV

JBT MAREL Corp

JBT submitted enhanced €3.40 per share offer (ISK511) for Marel; 46% premium to Nov 23, 2023 unaffected price.
Irrevocable undertaking secured from Eyrir Invest hf, which holds 24.7% of Marel shares, supporting the proposal.
Flexible consideration: up to 50% cash; Marel shareholders could own 29% (50/50 mix) or 45% (all-stock) of combined company.
Strategic rationale: complementary food & beverage technology portfolios, cross-selling, cost synergies, and expanded global reach.
JBT commits to significant Icelandic presence (European HQ in Gardabaer) and proportional board representation for Marel.

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