11:01 AM EST, 12/20/2024 (MT Newswires) -- John Bean Technologies ( JBT ) said Friday its voluntary takeover offer for Marel met all conditions, with over 90% of Marel shares validly tendered.

The transaction will settle on Jan. 2, with shareholders able to opt to receive cash, JBT stock, or a combination of cash and stock, John Bean Technologies ( JBT ) said.

Following the merger, John Bean Technologies ( JBT ) said it will rename itself "JBT Marel" and change its ticker to "JBTM," adding that the shares will trade on NYSE and Nasdaq Iceland starting Jan. 3.

John Bean Technologies ( JBT ) said it plans to delist Marel shares from Nasdaq Iceland and Euronext Amsterdam and redeem any Marel shares not yet tendered.

Shares of John Bean Technologies ( JBT ) rose 1.7% in recent trading.

Price: 125.71, Change: +2.11, Percent Change: +1.71