JBT Corporation (NYSE:JBT), a leading global technology solutions provider to high-value segments of the food and beverage industry, today announced that the Financial Supervisory Authority of the Central Bank of Iceland (FSA) has granted an extension of the expiration of JBT's voluntary takeover offer to acquire all issued and outstanding shares of Marel hf. (ICL: Marel).

The extension was granted as JBT and Marel continue to pursue the requisite regulatory approvals to close the transaction. The voluntary takeover offer, which was initially scheduled to expire on September 2, 2024, will now expire on the earliest date to occur of either November 11, 2024, or three weeks after the date on which all required regulatory clearances are secured, unless such offer period is further extended in accordance with applicable laws and the terms of the definitive agreement between JBT and Marel. JBT intends to issue a press release promptly following receipt of all required regulatory clearances.

Additionally, shareholders that have previously tendered their Marel shares do not need to re-tender their Marel shares or take any other action in response to the extension of the voluntary takeover offer.