Icelandic FSA grants extension to JBT to announce its decision no later than 19 January 2024 concerning a potential takeover bid for Marel

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Reference is made to Marel’s stock exchange release from 24 November 2023 regarding the unsolicited initial non-binding proposal from John Bean Technologies Corporation (“JBT”), and second approach as announced on 13 December 2023. Under Article 102(3) of the Icelandic Act no. 108/2007 on Takeovers, if it is publicly disclosed that a party is considering making a takeover bid, that party shall issue a decision on whether it intends to make a takeover bid within six weeks.

Marel has been informed that the Icelandic Financial Supervisory Authority has granted JBT a two-week extension to issue their decision regarding a potential takeover bid for all shares in Marel. With the extension, JBT will have to make its intentions clear no later than 19 January 2024.

Marel is in the process of reviewing JBT’s non-binding proposal with due care and process to assess its merits, consistent with the long-term interests of the company and all shareholders, and together with its advisors is in preliminary and high-level discussions with JBT as part of this assessment. At this time, there is no certainty whether the non-binding proposal will lead to a binding offer, or the terms on which such an offer might be made.

Marel will update the market in a timely manner regarding any material developments, consistent with its disclosure obligations. 

Marel has engaged J.P. Morgan as its financial advisor, and Baker McKenzie, BBA/Fjeldco and Osborne Clarke for legal advice in relation to the non-binding proposal.

Further information:
Investor Relations
Marel – Tinna Molphy
Email: ir@marel.com
Tel: +354 8538603

Media Relations
FTI – Alex Le May and Matthew O’Keeffe
Email: Marel@fticonsulting.com
Tel: +44 (0)20 3727 1340


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