Marel rejects non-binding proposal from JBT Corporation

Marel (MRRLF) said: “The Board of Directors of Marel has carefully evaluated JBT Corporation’s unsolicited non-binding initial proposal disclosed on 24 November 2023. The Board unanimously agreed that the proposal is not in the best interests of Marel’s shareholders since it does not account for the intrinsic value of the business as well as the inherent risk of executing the proposed transaction. As previously communicated to the market, Marel has been clear that there are benefits of further consolidation in the sector and has been executing this strategy. In line with its fiduciary duties, the Board would evaluate any proposals that fully reflect the value of Marel.”