Shareholders approve proposal for acquisition of Marel by John Bean Technologies Corporation

Shareholders of John Bean Technologies Corporation (JBT) have approved a proposal to issue new shares related to its acquisition of Marel. The transaction is expected to be finalized by the end of the year.

The headquarters of Marel, located in Garðabær, will serve as the European operations center for the newly formed entity, JBT Marel Corporation. This decision comes after JBT submitted an initial takeover offer for Marel in November, which was rejected by Marel’s board. JBT then presented a revised offer in December, followed by an updated proposal in January. An agreement on the acquisition was ultimately reached in April.

According to the announcement, collaboration between JBT and Marel is progressing well, with both companies working to fulfill other conditions necessary to complete the deal. They have submitted notifications in the relevant countries and regions concerning the planned merger and are now in communication with regulatory authorities to secure their approval, facilitating the transaction.

Furthermore, the companies are working toward dual listing of shares on Nasdaq Iceland. The successful completion of this acquisition is anticipated by year’s end, establishing JBT Marel Corporation with European operations headquartered in Garðabær.