Filing Flows › JBT Marel (JBTM) › Takeover & LBO
Is JBT Marel (JBTM) a takeover target?
A leveraged buyout at today's price plus 30% ($141.92 a share) would return about 5% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $86.71 a share (−21% against today's $109.17). Historically 6.4% of companies with its figures were bought within a year (1.27× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $141.92 | today's $109.17 plus 30% |
| × shares | 51.6 million | |
| = Equity value | $7.3B | |
| + Debt refinanced | $1.7B | |
| − Cash | $117M | |
| = Enterprise value | $8.9B | 16.1× EBITDA of $553M |
| Fees | $178M | 2% of the price |
| New debt | $3.0B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $6.0B | 67% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $4.2B | $597M | $233M | $198M | $2.8B |
| Year 2 | $4.5B | $637M | $217M | $242M | $2.6B |
| Year 3 | $4.8B | $672M | $199M | $285M | $2.3B |
| Year 4 | $5.0B | $701M | $177M | $327M | $2.0B |
| Year 5 | $5.1B | $722M | $152M | $367M | $1.6B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 13.0× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $9.4B | |
| − Debt left | $1.6B | |
| = Buyer's equity | $7.8B | |
| Money multiple | 1.29× | on $6.0B put in |
| Buyer's yearly return (IRR) | 5.2% |
Price against return
What the buyer makes at other premiums over today's $109.17; the IRR reaches 20% at $86.71 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $120.09 | 9.8% |
| 20% | $131.00 | 7.4% |
| 30% | $141.92 | 5.2% |
| 40% | $152.84 | 3.3% |
| 50% | $163.75 | 1.6% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $3.9B | |
| EBITDA, last 12 months | $553M | 14.1% of revenue |
| Depreciation and amortization | $266M | |
| Capital spending | $111M | |
| Debt | $1.7B | |
| Cash | $117M | |
| Share price | $109.17 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 20% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, JBT Marel would cost about $152.84 a share, $7.9B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 14.7% | $125.22 | $6.5B |
| Median | 40% | $152.84 | $7.9B |
| High end (a quarter paid more) | 60.2% | $174.89 | $9.0B |
The odds, from history
Historically 6.4% of companies with its figures were bought within a year (1.27× the average). Its figures put it in decile 8 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
JBT Marel's latest quarter
JBT Marel, Q3 2026: revenue $994M (-0.7% year over year), operating margin 10.1%, net earnings $70.0M, operating cash flow $99.0M. The chart follows the revenue to costs, profit and cash.
Questions
Is JBT Marel being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy JBT Marel?
A leveraged buyout at today's price plus 30% ($141.92 a share) would return about 5% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $86.71 a share (−21% against today's $109.17).
What would a takeover of JBT Marel cost?
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, JBT Marel would cost about $152.84 a share, $7.9B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.