Marel Declines JBT’s Acquisition Offer, Prioritizing Shareholder Value and Strategic Goals
Marel, a leading Icelandic food equipment company, recently made headlines by declining a significant acquisition offer from Chicago-based John Bean Technologies (JBT) Corp.
This key decision, announced on November 28, showcases Marel’s commitment to its shareholders and strategic business objectives. JBT’s non-binding proposal, made on November 24, valued Marel at 3.15 euros per share, including all shares and existing debts.
However, after a comprehensive review, Marel’s board unanimously determined that the offer did not reflect the company’s true market value and involved substantial transaction risks. This move by Marel underscores its dedication to evaluating any future mergers or acquisitions that more accurately represent its worth and align with its long-term industry consolidation strategy.
Marel’s focus on securing the best interests of its stakeholders and maintaining its position as a key player in the food equipment industry is evident in this decision, signaling its openness to strategic growth opportunities that meet its stringent criteria.
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Marel Company Overview
Founded in 1983 in Iceland, Marel has grown into a multinational food processing company, specializing in advanced equipment and solutions for the poultry, meat, fish, and alternative protein sectors. With strategic acquisitions and innovation, it employs around 8,000 people and operates in over 30 countries.
John Bean Technologies (JBT) Company Overview
Founded in 2008, John Bean Technologies (JBT) is a global leader in technology solutions for the food, beverage, and aviation industries. Based in Chicago, it employs about 7,200 people and operates two main segments: FoodTech and AeroTech, offering comprehensive products and services across these high-value industries.