JBT Corporation Confirms Non-Binding Proposal To Acquire Marel; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
JBT Corporation (NYSE:JBT) has made a non-binding initial proposal to acquire Marel, a company listed on Nasdaq Iceland and Euronext Amsterdam. JBT has secured an irrevocable undertaking and exclusivity with Eyrir Invest hf., which owns 24.7% of Marel's shares. The proposal aligns with JBT's strategic M&A goals, but there is no certainty that a formal offer will be made. Goldman Sachs is the financial advisor, with LEX and Kirkland & Ellis LLP as legal counsel for JBT.
November 24, 2023 | 2:36 pm
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JBT Corporation has proposed to acquire Marel, which could expand its market presence in the food & beverage industry. The deal is non-binding and there's no assurance it will proceed.
The news of a potential acquisition could be seen positively by investors as it may lead to growth and synergies. However, the non-binding nature and lack of financial terms mean there's uncertainty about the deal's completion.
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