John Bean Technologies Corp (NYSE:JBT) has released its FY23 preliminary results, exceeding its previous guidance with adjusted EPS of $4.05 – $4.15 and adjusted EBITDA of $272 million – $275 million. The company also announced its intention to launch a voluntary takeover offer for Marel hf in Q1 2024 at €3.60 per share, valuing the deal at approximately €3.5 billion. This follows a revised proposal in December at €3.40 per share. The deal is expected to close by the end of FY24, with significant cost synergies and accretion to cash EPS anticipated. JBT also provided FY24 outlook with revenue expected between $1.75 billion and $1.78 billion, and adjusted EPS of $5.05 – $5.45. As of September 30, 2023, JBT had $526.7 million in cash and equivalents. JBT shares are up 0.72% in premarket trading.