Baird likes JBT Corp. bid to buy Marel

After JBT Corp. announced its intention to launch a voluntary takeover offer for European competitor Marel during Q1 and raised its bid to EUR 3.60 per share, Baird said the firm thinks the deal as currently framed “makes good strategic sense” and can generate significant long term shareholder value. The firm, which adds that JBT’s initial 2024 guidance also points to good core revenue and margin progress, has an Outperform rating and $121 price target on the shares.