JBT has announced that it has received all necessary regulatory clearances for its voluntary takeover offer of Marel hf., paving the way for the transaction's completion. The European Commission granted clearance on November 26, 2024, following its Phase 1 review, and the Australian Competition and Consumer Commission confirmed its non-opposition on November 22, 2024.
Updated Offer and Settlement Period
JBT has amended key terms of the offer:
- Settlement Period: Extended to five business days after the offer's expiration, ensuring a smoother settlement process
- Offer Expiration: Revised to 12:00 noon GMT on December 20, 2024 (from 17:00 GMT)
Taking into account Icelandic bank holidays, the transaction settlement is expected to close no later than January 3, 2025.
Board of Directors Maintains Support
Marel's board of directors reaffirmed its unanimous support for the offer after reviewing the updated terms. The board:
- endorses the offer, including the price and terms
- recommends shareholders accept the offer and tender their shares
- believes the transaction benefits Marel, its employees and stakeholders
Shareholder Information
Iceland-Listed Shareholders: Contact Arion Banki hf. at [email protected] for queries.Euronext Amsterdam-Listed Shareholders: Reach out to your financial intermediary or ABN AMRO Bank N.V. at [email protected].
